Yoma Strategic Holdings’ 1Q16 Net Profit Up 77.7% To $2.6 Million
Yoma Strategic Holdings’ 1Q16 revenue increased 30.7 percent to $22.6 million while net profit surged 77.7 percent to $2.6 million.
The increase in revenue was largely due to the continued growth momentum in the group’s automotive and real estate rental businesses.
Rental income from Pun Hlaing Golf Estate (PHGE) and Building A5 of Star City Zone A recorded a significant year-on-year increase to $2.5 million in 1Q16, while revenue from the automotive segment increased significantly to $7 million in 1Q16 from $0.2 million in 1Q15.
Gross profit margin improved to 44 percent from 28.2 percent in 1Q15 largely due to a higher portion of the revenue from the real estate segment being derived from PHGE which contributed a higher margin as compared to Star City.
The group’s recent opening of its first KFC outlet in Myanmar in June 2015 has received strong consumer interest and positive media publicity and is expected to contribute to the positive momentum of the group’s non-real estate business in the next quarter.
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