Travelite Holdings Reports FY2025 Loss Amid Revenue Decline and Rising Costs
Summary:
-
Revenue Decline: Travelite Holdings Ltd. reported a 19.6% year-on-year decrease in revenue, totaling S$16.67 million for the six months ended 30 September 2024, down from S$20.74 million in the same period the previous year.
-
Net Loss Incurred: The company posted a net loss of S$381,000, compared to a net profit of S$968,000 in the prior year, largely due to reduced sales and higher cost pressures.
-
Operating Expenses: Marketing and distribution costs increased by 2.4% to S$6.77 million, while administrative expenses decreased by 8.9% to S$2.27 million. Finance costs fell by 21.4% to S$600,000.
-
Inventory and Receivables: Inventories rose to S$18.27 million from S$17.21 million, while trade and other receivables increased to S$6.83 million from S$5.32 million.
-
Cash Position: Cash and cash equivalents declined to S$10.30 million, down from S$12.07 million, reflecting operating losses and changes in working capital.
-
Equity Growth: Total equity attributable to shareholders rose to S$24.80 million, up from S$22.37 million, supported by a S$2.52 million capital injection during the period.
-
Earnings Per Share: Basic and diluted loss per share stood at 0.07 cents, a reversal from earnings of 1.61 cents per share the year before.