This resulted in higher operating profit for the year from its wholesale and distribution unit; lower operating losses from Edmontor; and a turnaround in Food Junction’s performance from improved contributions from its food courts and self-operated stalls in Singapore, in addition to the rationalisation of operating costs including the closure of non-performing restaurants in 2015 and 2016.
SINGAPORE (Feb 21): Auric Pacific Group announced earnings of $7.2 million for FY16, turning around from its $40.8 million of losses posted in FY15.
Auric Pacific attributed the upswing in profitability to its rationalisation exercise to streamline its non-performing businesses and investments in FY15.
