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Lifebrandz FY15 Net Loss Worsens 33%
Daily Bulletin | 30 September 2015

Lifebrandz announced a net loss of $7.6 million for FY15, an increase of 32.8 from the net loss of $5.7 million last year despite recording higher revenue.

Revenue increased 7.9 percent to $1.3 million mainly contributed by the new trading activities generated by the group. The trading business of component parts has been consistent and nurture positive business activity and profile within the group. The F&B club operations under the Mulligans concept maintained popularity and business activities with the regular crowd in Thailand.

However the increase in revenue was unable to cover the loss from discontinued operations as well as continued operations which were also in the red. The group recorded a loss of $1.8 million on the discontinued operations from the liquidation of the respective entities and the measurement of the assets and liabilities in FY15.

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