10 Aug Q2/2016: Debt-Free YuuZoo Continues to Show Strong Revenue and Profit Growth, while Liabilities and Receivables Decrease
- Revenue Grows 237% year-on-year to SGD36M
- EBIT Surges 1040% to SGD14.3M
- e-Commerce Jumps 313% to SGD18.9M
- Receivables decrease to 19.5M from 34.7M at December 31st 2015
Summary of financial results for 2Q 2016 and half year ended 30 June 2016
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Singapore, 10th August 2016: Singapore-based YuuZoo Corporation Limited (“YuuZoo” SGX: AFC) one of the world’s first third-generation social e-Commerce companies, today announced its second quarter 2016 results, highlighting the company’s continuous strong performance and growth.
The Group’s total income grew by 237% from SGD10.7 million in 2Q 2015 to SGD 36 million in 2Q 2016. For the half year ended 30 June 2016, total income grew 242% year-on-year to SGD 81.5 million. YuuZoo’s e-Commerce business jumped by 497% to SGD 47.2 million for the first half of 2016. EBIT surged by 1040% to SGD14.3 million in 2Q2016 and 378% to SGD 27.1 million in 1H 2016.
Trade and other receivables decreased by 44% to SGD19.5 million from SGD34.7 million at December 31st 2015, while liabilities during the same period decreased by 67% to SGD3.7 million from SGD11.2 million. The Company continued to operate fully debt-free.