Cost of sales rose 50.7% to $4.9 million from $3.3 million in the previous year, caused by higher cost of equipment and staff-related costs which the group attributes to expansion of sales and production teams as well as the changes in product mix, leading to increased sales of equipment of lower margin.
SINGAPORE (June 22): Singapore Kitchen Equipment (SKE) reported losses doubled to $0.9 million for 1Q18 from $0.45 million a year ago on higher costs and expenses.
Revenue for the quarter grew 43.6% to $6.9 million from $4.8 million in 1Q17 mainly due to higher sales generated from fabrication and distribution for tenders, and higher maintenance and service income.
