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EpiCentre reverses back into the black with contribution from JIPL

PC Lee Published on Wed, Aug 30, 2017 / 7:34 AM GMT+8

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SINGAPORE (Aug 30): EpiCentre, the retailer of Apple products, swung back into the black with earnings of $0.5 million in FY17 from a loss of $5.8 million in FY16, thanks to sales contribution from its new business JIPL.

Revenue fell 39% to $100 million from $164.1 million a year ago on the discontinuation of three outlet stores upon expiry of their respective leases. Its topline was also hit by poor retail sentiments as a result of slowdown in the global economy.

However, this was offset by revenue of $721,000 contributed by JIPL, its new business which provides lifestyle, health and wellness services, during the period from April 1 to June 30.