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Vin&rsquo s Holdings expects &lsquo significant improvement&rsquo in H2 net profit
However, it forecasts full-year earnings to fall due to a first-half loss
[SINGAPORE] Automotive group Vin&rsquo s Holdings on Wednesday (Feb 11) said that it expects to report a &ldquo significant improvement&rdquo in net profit for the second half of the year, from the year-ago period.
This will mark its first financial results since it was listed on the Catalist board in April last year.
The expected improvement for H2 will be attributed mainly to a stronger operating performance across the group&rsquo s business segments, &ldquo driven by higher margin contributions and further supported by the receipt of a one-time listing grant&rdquo .
However, despite the rise in H2 net profit, the group expects a drop in full-year net profit. This will be due to the loss incurred in the first half of the financial year, as well as &ldquo higher expected credit loss and increased administrative expenses&rdquo during the year.
Vin&rsquo s Holdings reported a S$1.2 million net loss for the first half of the year, compared with a S$2.6 million net profit in the year-ago period. This came alongside S$48.9 million in revenue &ndash 8.6 per cent lower year on year &ndash due to a fall in sales in all its segments.
Its H2 results will be released on Mar 1.
Shares of Vin&rsquo s Holdings closed flat at S$0.26 on Tuesday.
This one also in vehcles business like Skylink.....why cannot move?
Bull run everything must move
Bull run everything must move
Vin&rsquo s Holdings guides for net loss in 1HFY2025 due to listing-related expenses
Newly listed car dealer Vin&rsquo s Holdings is guiding for a net loss for the 1HFY2025 ended June 30, compared to the previous financial year.
This is due to a decline in revenue and increase in administrative expenses related to the one-off listing expenses and higher staff costs.
Vin&rsquo s Holdings listed on the Catalist board of the Singapore Exchange on April 15, having raised a total of $6 million at 30 cents per share at the close of its application on Apr 11.
Of the net proceeds raised of $4 million, the company says that it will use about $3.2 million for enhancement of IT and services, and the expansion of showrooms, workshops and after-sales services.
The group&rsquo s largest revenue contributor is automotive sales and related services.
Catalist? burn to a crisp.. avoid
Another ipo that's bounded for $0.1** and then ........
All the hype will be going down and down.. Owner millions in pockets 😂