Yoma’s 1Q17 earnings drop 28.6% to $1.8 million on softer property-related sales

SINGAPORE (July 26): Myanmar-focused business conglomerate, Yoma Strategic Holdings, reported a decrease in earnings to $1.8 million for the three months ended 30 June 2016 in 1Q17.

Revenue fell 22.4% to $17.6 million in 1Q17 from $22.7 million in 1Q16. The bulk of Yoma’s revenue was driven by the group’s consumer and automotive & equipment businesses, as well as from investment properties, which offset the lower revenue from its sales of residences and land development rights.

Revenue from the group’s non-real estate businesses recorded a 37.2% growth to $9.6 million. The group’s Case New Holland business contributed $5.6 million or 58.6% of its non-real estate revenue. The group’s fleet leasing business expanded to 359 vehicles under lease with growing demand from organisations expanding their operations in Myanmar. The group’s KFC business also continued its growth momentum with two new stores openings in April and June which brought the total store count to six as at end of June 2016.

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