LONDON (Alliance News) - Singapore-based New Trend Lifestyle Group PLC said Wednesday its trading performance had continued to improve in the second half of 2018, with its looking to potentially break even on rising revenue.
The Feng Shui products firm explained trading in Singapore had continued to improve since its interim results were announced in September. This echoed the trading improvement seen in the first six months of 2018.
In 2018, New Trend expects revenue to have grown a third to SGD6.5 million - equivalent to GBP3.7 million - from SGD4.9 million the year prior.
The firm also expects to report that it was "close to breaking even" at the pre-tax profit level for the year. This was following control of costs during the period. In 2017, New Trend had reported a post-tax loss of SGD1.6 million.
"The sales and marketing initiatives that have been implemented since the downturn have now started to show positive results, and the group remains focused on continuing with these initiatives to maintain this continued improvement in sales performance in the current period, which has started well," New Trend explained in a statement.
Shares in New Trend were untraded at 0.125 pence on Wednesday.
