Chasen

Chasen: 3QFY14 net loss of $0.3m from $0.3m in 3QFY13, despite revenue growth of 35% y/y to $27.3m, due to lower gross profit margin on competition, higher marketing expenses and increased provision for doubtful trade debts. The increase in revenue was mainly attributable to a 100% rise in revenue for its relocation business segment to $7.2m which partially mitigated the 12.4% slip from its technical and engineering business segment. Going forward, the group expects certain delayed relocation projects in China to recommence, while business in Vietnam is expected to grow substantially and be a key contributor to the group’s bottomline in FY2014.