Gaylin's FY18 loss widens to $51.6 mil on inventory provisioning
Michelle Zhu • • 2 min read
SINGAPORE (May 28): Gaylin Holdings, the specialist provider of products, services and solutions to the oil & gas (O&G) and maritime industries, saw 4Q losses widen to $44.4 million from a loss of $6.2 million a year ago due to higher provision for slow-m
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SINGAPORE (May 28): Gaylin Holdings, the specialist provider of products, services and solutions to the oil & gas (O&G) and maritime industries, saw 4Q losses widen to $44.4 million from a loss of $6.2 million a year ago due to higher provision for slow-moving and aged inventory.
The latest set of quarterly results brings the group to a full year loss of $51.6 million as compared to its FY17 loss of $11.4 million, in line with Gaylin’s management guidance announced earlier in March this year.
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