Sakae returns to profitability in FY17 on reduced expenses

SINGAPORE (Feb 15): Sakae Holdings concluded FY17 with $1.1 million in earnings, reversing from its losses of $12.6 million in FY16 on reduced expenses.

For the 4Q ended Dec 2017, the group reported earnings of $0.1 million compared to the $5.3 million loss posted in 4Q16, boosted by a new stream of revenue from commodities trading of $3 million.