SINGAPORE – Yoma Strategic’s web loss widened to US$32.7 million (S$44.2 million) for the second half-year ended March 31, from US$14.8 million within the earlier yr.
This got here amid a rise in web honest worth losses and impairment losses for its mixed-use growth, Yoma Central, which continues to be underneath development. Larger curiosity bills at Yoma Central, rising London interbank supplied charges for the US greenback and foreign money translation losses on its baht-denominated bonds additionally added to finance prices.
The outcomes translated to a loss per share (LPS) of 1.47 United States cents for a similar interval, in contrast with an LPS of 0.67 US cents.
Myanmar-focused Yoma Strategic has companies in areas similar to actual property, meals and beverage, automotive, monetary providers and funding.
Income for the second half rose 126.1 per cent yr on yr to US$82.7 million from US$36.6 million. This was primarily as a result of file residence gross sales, meals and beverage gross sales, and the completion of the Wave Cash acquisition.
Wave Cash, which comes underneath the group’s monetary service phase, turned a subsidiary of the group in December 2022. It contributed US$19.7 million in direction of the group’s income from December 2022 to March 2023.
No dividend was declared for the interval, unchanged from the earlier yr.
For the total yr ended March, web loss was US$41.2 million, whereas income was US$123.6 million.
Whereas the enterprise atmosphere in Myanmar has skilled gradual development over the previous quarters, the group famous that challenges similar to regulatory modifications, US greenback availability, inflationary pressures and chronic electrical energy outages stay.
“The group stays cautiously optimistic about its enterprise prospects within the subsequent six to 12 months and can concentrate on persevering with to enhance profitability and money circulate throughout all companies, with an emphasis on sustaining development in its actual property and cell monetary providers companies,” it mentioned.
Shares of Yoma Strategic had been buying and selling up 4.1 per cent to 10.1 cents at 9.36am on Thursday after the earnings announcement. THE BUSINESS TIMES
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