Stronger demand for freight, logistics services raises Vibrant Group's profit
Published on Jun 27, 2014 10:28 PM
SINGAPORE - Vibrant Group, formerly known as Freight Links Express Holdings, posted an 11.2 per cent rise in net profit to $42.7 million.
This was on the back of an 8.4 per cent increase in revenue to $191.4 million for the year ended April 30.
Gross profits surged by 20.3 per cent to $59.3 million, mainly due to increased revenue from freight and logistics business and provision for financial services.
On the other hand, profit from operations fell by 19 per cent to $31.9 million, mainly due to fair value loss on quoted equity securities.
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