Oceanus Reverses Losses to Earnings of $1.9 Million for 3Q on Higher Revenue
For the 3QFY2020 ended Sept 30, Oceanus Group has reported earnings of RMB9.5 million ($1.9 million), from its losses of RMB7.3 million in the year before.
Earnings for the 9MFY2020 stood at RMB4.7 million from the RMB4.5 million loss reported in 9MFY2019.
Earnings per share (EPS) for the 3QFY2020 and 9MFY2020 stood at 0.01 RMB cents and 0.02 RMB cents respectively.
3QFY2020 revenue saw a 626% surge y-o-y to RMB135.0 million, while revenue for the 9MFY2020 registered a 364% surge y-o-y to RMB175.3 million.
The higher revenue represents the highest level of turnover for the group since FY2011, it says in a statement via SGX dated Nov 9.
The increase in revenue is primarily attributable to the increase of rental and contract farming revenue from the group’s aquaculture segment, which contributed RMB11.0 million in revenue for the nine-month period, as well as the expansion of the group’s distribution segment in fast-moving consumer (FMCG) goods, which contributed some RMB155.9 million in revenue for the 9MFY2020.