(Alliance News) - New Trend Lifestyle Group PLC on Thursday said its loss narrowed in 2018 due to increased sales.
The Feng Shui products and services firm posted a SGD360,000 or around GBP210,000 pretax loss, narrowed from a SGD1.5 million loss in 2017.
The company's revenue increased 38% to SGD6.5 million from SGD4.7 million, which drove the narrowed loss, but trading conditions did remain challenging.
"There has been little progress with the sourcing of a new acquisition, as the board has been focussed on the improvement in trading performance. The board will continue to update shareholders as and when there is any significant progress in this regard," said New Trend.
Revenue in the first quarter was SGD1.9 million, up from SGD1.6 million the year before.
"This has been as a result of continued success with the sales and marketing initiatives. The board continue to focus on improving sales, whilst maintaining a tight control on costs, such that trading performance continues to improve," the company said.
Shares in New Trend closed down 33% at 0.10 pence on Thursday.