As Jubilee contributed to higher sales revenue after being recorded as a subsidiary, this helped to more-than offset lower contributions from the group’s systems segment due to new industry competitors as well as lower market demand.
SINGAPORE (May 30): Accrelist, the provider of corporate accretion services, swung back to profitability with earnings of $0.2 million in FY18 from $8.3 million in losses the previous year.
This came as revenue for the full year grew more than hundredfold to $112.5 million from $0.9 million after the group increased its shareholding in Jubilee Industries Holdings, resulting in Jubilee becoming a subsidiary rather than an associated company of the group.
