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Noel Gifts International falls into the red on higher operating expenses

Published on Feb 10, 2014 9:40 PM

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.

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