Friday, February 26, 2010

Lippo's Auric still in red

Auric Pacific Group Ltd, wholesaler and food retailer controlled by Lippo Group, reported net loss S$3.4 million last year, declined from S$33.8 million loss in 2008. The swing around of $30.4 million was largely attributable to better results in relation to investment related activities.
Auric reported net sales revenue of S$405.96 million last year, declined slightly by 3.3% from 2008, thanks to improvement in the last quarter of 2009. Wholesale and distribution contributed S$235 million of revenues, down 2%, while food retail inched up 5.7% to S$116 million.
Manufacturing and food court, meanwhile, increased 1.7% and 251% respectively. But these segments contributed only S$53.78 million of sales revenue.
Auric Pacific had total asset of S$362.79 million in Dec 31, 2009, declined slightly from S$393 million in Dec 2008. The stock is rarely traded.




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