Similarly, cost of sales increased 29% y-o-y to $70.3 million, bringing gross profit for the period to $15.5 million, 22.0% higher y-o-y.
Other operating costs increased by 86.4% to $1.39 million from $0.75 million last year, due to net foreign exchange loss and net fair value adjustment loss in derivative.
Other income dropped 85.7% to $0.22 million compared to $1.53 million a year ago.
As at March 31, the group’s cash and cash equivalents stood at $43.5 million.
Scroll to continue
Barring unforeseen circumstances, the group expects to maintain the competitiveness of its businesses and remain profitable through continuing efforts in improving operational efficiency and cost control measures
Shares in Nam Lee closed at 37 cents on Friday.
