MYANMAR-FOCUSED Yoma Strategic Holdings incurred a net loss of US$13.3 million for its first quarter ended June 30, 2019, deepening from a net loss of US$5.6 million a year ago, amid lower real estate development revenues and higher finance expenses. Read more at The Business Times.
MYANMAR-FOCUSED Yoma Strategic Holdings incurred a net loss of US$13.3 million for its first quarter ended June 30, 2019, deepening from a net loss of US$5.6 million a year ago, amid lower real estate development revenues and higher finance expenses.This was mainly due to lower contribution from the Yoma Land real estate business, as well as a 76.5 per cent year-on-year increase in finance expenses to US$9.6 million.
Revenue from Yoma Motors, its automotive and heavy equipment segment, also dropped, by 24.9 per cent, albeit with “significantly” higher gross profit margins, the group said.
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