KBS Fashion Clocks 183% Sales Growth In 1H On Flower Crown Acquisition

  • KBS Fashion Group Ltd KBSF reported the first-half FY21 sales growth of 183% year-on-year, to $12.7 million.
  • The increase in revenue is due to the acquisition of Flower Crown, which added three new segments to the business through the Luxventure brand.
  • Revenue from tourism, airfare and cross-border merchandise business segments totaled $10.2 million.
  • The gross margin for the half-year declined 20 percentage points Y/Y to 6%.
  • The operating loss widened to $(6.04) million.
  • The company held $14.1 million in cash and equivalents as of June 30, 2021.
  • Inventories rose 18.6% Y/Y to $2.1 million.
  • It reported EPS of $(1.21) in the 1H.
  • Price Action: KBSF shares are trading lower by 1.47% at $4.02 on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPenny StocksBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!