Vibrant sees 67% fall in FY16 earnings to $10 mil; appoints new chairman

SINGAPORE (June 29): Vibrant Group, formerly known as Freight Links Express Holdings, reported a 66.6% decline in earnings to $10 million.

For the full year to March, revenue rose 38.2% to $280.7 million, lifted by sales from two government-approved resettlement housing development projects in Jiangyin, China.

Revenue from its largest segment -- the freight and logistics business -- fell 11.5% to $158.9 million following the disposal of a loss-making subsidiary and a decrease in freight and logistics handling volumes.

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