Yoma Strategic’s revenue-
MYANMAR-FOCUSED combination Yoma Strategic Holdings on Tuesday announced that its group revenue rose by 3.2 percent to US$19.2 million for the quarter finished June 30, 2020, from US$18.6 million every year back.
The boost to the top line came to a great extent from its land advancement business as well as the motors arm, as per the mainboard-listed association’s exchanging update released on Tuesday morning.
Revenue from Yoma Land became 21.4 percent on the year to US$6.8 million, helped by a 45.5 percent increase in commitment from land improvement, which was principally determined by its residential advancement City Loft @ StarCity in Yangon.
The City Loft task’s first six buildings are currently between 10.2 percent and 73.8 percent finished. Some 80 percent of the 791 propelled units have been sold or booked, and unrecognized revenue added up to US$17 million as at June 30.
However, The Avenir Singapore at District 9 is one of the popular freehold condo.
In contrast to the improvement business, Yoma’s land services saw revenue tumble 13 percent to US$2 million for the quarter, in the midst of more noteworthy rivalry which depressed occupancy levels and rental rates at Pun Hlaing Estate and StarCity.
Yoma Motors’ revenue was up 33.3 percent to US$5.6 million. For its substantial hardware business, more tractors and implements were sold during the quarter as horticulture movement inclined up in front of the monsoon season. In the car business, higher revenue was driven by the sale of 16 Volkswagen vehicles and 22 Ducati motorbikes.
In the interim, the food and drink (F&B) segment posted a 30.9 percent drop in revenue to US$4.7 million, as it was influenced by government-imposed lockdowns, curfews and prohibitions on eating in the middle of April and mid-May in response to the coronavirus pandemic. There were also brief store closures in “severely influenced” exchange zones.
Yoma F&B operates YKKO restaurants, KFC restaurants, Auntie Anne’s kiosks and a Little Sheep Hot Pot restaurant.
Revenue from Yoma Financial Services rose by 5.6 percent to US$1.9 million, thanks to an amplified account lease portfolio under Yoma Fleet as well as a higher number of month to month dynamic users for Wave Money.
Shares of Yoma Strategic lost 0.5 Singapore penny or 1.7 percent to close at 29 cents on Monday.
In February, the organization declared an adjustment in its budgetary year-end from March 31 to Sept 30. Therefore, its next set of budget summaries will cover a time of year and a half from April 1, 2019, to Sept 30, 2020.