Yoma's net profit up 71.7% to $3.9m

Props to its robust automotive and heavy equipment business.

Mainboard-listed Yoma Strategic Holdings reflected a significant growth in its net profit for the past quarter, up 71.7% to $3.9m compared to last year.

The group said it saw better operational performance across all of its businesses as revenue grew 46.8% YoY to $25.8m from $17.6m.

Its consumer business reported a healthy revenue, up 42.1% to $3.1m due to the expansion of its KFC business. Meanwhile, revenue from its automotive and heavy equipment business grew 61.3% to $11.9m as demand for its s New Holland tractors remained strong.

For the group's real estate business, the revenue generated from the sale of residences and land development rights doubled tp $6.2m, due to the share of profits from the sales of residences in Galaxy Towers and the additional share of profits in StarCity Zone B following its completion.

The increase in revenue came with the uptick in expenses. The group's administrative expenses rose slightly by 4.2% to $13.1m in 1Q18 mainly due to the increase in staff costs, rental and lease expenses and depreciation in relation to the growing number of KFC stores and New Holland branches.

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