Noel Gifts International falls into the red on higher operating expenses
Higher operating expenses dragged Noel Gifts International into the red to the tune of $419,000.
Revenue for the six months to Dec 31 fell by 3 per cent to $10.2 million.
Other operating income increased mainly due to grants received from government agencies.
The group's total operating expenses were 5.8 per cent higher at $5.79 million, mainly due to a one-time office relocation cost.