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New Trend Lifestyle full-year loss widens 55.6% YOY

New Trend Lifestyle Group Plc said its full-year normalized net income was a loss of S$1.1 million, compared with a loss of S$721,250 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 20.4% from negative 9.2% in the year-earlier period.

Total revenue fell 29.8% year over year to S$5.5 million from S$7.9 million, and total operating expenses decreased 16.7% year over year to S$7.7 million from S$9.2 million.

Reported net income totaled a loss of S$1.8 million, or a loss of 2 cents per share, compared to a loss of S$1.1 million, or a loss of 1 cents per share, in the prior-year period.

As of June 29, US$1 was equivalent to S$1.38.