Intraco also benefited from better management of its balance sheet and cost savings arising from its cost management initiatives.
Trading and distribution company Intraco (SGX:I06
) has guided that it will report a “significant increase” in profitability for its FY2023 ended December as compared to the net loss position in the prior financial year.
The increase was mainly due to a reversal of allowance for impairment loss on trade receivables made by the company’s wholly-owned subsidiary Intraco Trading in the financial years ended December 2009 to December 2011.
