SINGAPORE (May 8): Ellipsiz reported a loss of $1.50 million in 3Q18, compared to earnings of $2.25 million in 3Q17.
This was despite the group recording a 23% increase in revenue to $12.5 million from $10.2 million last year, due to revenue improvement from the group’s business in Singapore and Taiwan.
Other income dropped by 98% to $0.03 million from $1.31 million in the previous year. In 3Q17, the group had recognised a gain on disposal of an associate amounting to $1.2 million.
Distribution expenses were 38% higher y-o-y at $0.96 million, while administrative expenses were also 38% higher y-o-y at $1.68 million.
Other expenses increase significantly to $1.51 million from $0.33 million last year.
As at March 31, the group’s cash and cash equivalents stood at $78.3 million.
Looking forward, the group will continue to be vigilant of its volatile operating environment, while exploring opportunities for growth.
Shares in Ellipsiz closed at 58 cents on Tuesday.
