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New Trend Lifestyle in the red

By BFN News | 01:48 PM | Thursday 05 June, 2014


Feng Shui products and services group New Trend Lifestyle posts a pre-tax loss of S$1.04m for the year to the end of December against a pre-tax profit of S$323,000 last time. Revenues rose to S$11.1m from S$10.7m but the group - which operates in Singapore, Hong Kong and mainland China - had a trading loss of S$1,003,000, up from S$90,000 last time. Chairman Robert Goddard said: "The group's performance has remained resilient to the general macro-economic downturn in the Singapore retail market. The group will focus on maintaining a strong retail offering in Singapore, whilst further developing the Chinese market with a franchising model. This will improve traction in this developing but important target market. "Year-to-year comparable sales in Singapore for the year outperformed the sharply diminished general retail market and this is testimony to the quality of the Group's offering. Retail market statistics for the early part of 2014 in Singapore suggest a very slight improvement in retail market demand over the full year of 2013. "We will continue to refresh and upgrade the Singapore network and expect to roll out a new retail and service concept early in the second half of 2014. Managed by an experienced professional in the field, this will be a beauty parlour chain based on Feng Shui principles. The other initiatives in hand will continue to be progressed." At 1:48pm: (LON:NTLG) New Trend Lifestyle Group Plc share price was -0.25p at 7.38p Story provided by StockMarketWire.com

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