Asiatravel.com Holdings Sinks Deeper Into The Red For FY15

Asiatravel.com Holdings announced a net loss of $10.8 million for FY15, sinking deeper into the red from a net loss of $9.6 million in FY14. Revenue fell 2 percent due to weaker performance of the group’s offline wholesale business which fell 33.8 percent, while gross profit decreased by 1.8 percent to $14.4 million mainly due to reduced mark up to maintain market share amidst strong online competition.

In line with the lower revenue, other operating expenses decreased by 16 percent ($2.8 million) to $14.5 million mainly due to the cut back on advertising and promotion expenses. The group’s expenses would have been lower if not for the set up expenses incurred by the China unit for its China-centric website.

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