Loss before tax stood at $9.0 million. Excluding the RTO expenses, the group actually registered a profit before tax of $1.7 million.
Lincotrade and Associates Holdings (SGX:BFT
) , formerly Fabchem China, has reported a loss of $9.5 million for the 1HFY2023 ended Dec 31, 2022, down from the $251,000 in earnings in the same period the year before.
The loss was mainly due to the surge in other losses, which includes the one-off non-cash reverse takeover (RTO) expense of around $10.8 million. The amount comprises $9.6 million in RTO expenses and $1.2 million in share-based payments to the group’s sponsor and arranger. Lincotrade, an interior fitting out service provider, began trading on the Catalist board in August 2022 after the $25 million RTO by Fabchem China, which was an explosives maker.
