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Sysma Holdings Recovers From The Red With $2.6 Million FY15 Net Profit
Sysma Holdings has announced a FY15 net profit of $2.6 million, pulling the group out of the red from the net loss of $11.8 million last year.
The group saw a massive spike of 143.3 percent in revenue to $98.4 million, mainly attributed to increased contributions from both construction projects, as well as property development projects. In particular, property development projects had the most increment, where revenue contributions increased from $7.7 million last year to a whopping $42.9 million.
Despite an increase of 71.5 percent in cost of sales, which is less than proportionate to the increase in revenue, as well as a 49.2 percent increase in overall operating expense which eroded the profit gain, the spike in revenue was able to pull the group out of the red.
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