Loss from operations increased by 24.8% to $37.5 million mainly due to increase in other operating expenses such as revaluation deficit in properties and fixed assets, loss disposal of fixed assets, utilities and a writeback of provision of scheme of arrangement for creditors and scheme-related expenses in previous year.
SINGAPORE (May 31): TT International, the operator of Big Box hypermart in Jurong, saw losses for the FY17 ended March widen to $44.5 million from $33.3 million a year ago.
Full-year revenue fell 12.1% to $304.5 million mainly due to weaker sales generated by overseas subsidiaries as a result of lower customer spending due to weakened global economic conditions.
