ecoWise Announced the Financial Results for Fiscal Year 2017

New Management Leading Breakthrough Changes

Loss Significantly Reduced in FY2017

ecoWise announced the financial results for the financial year ended 31 October 2017 (“FY 2017”). The Group’s revenue for FY 2017 was S$56.05 million, while gross profit was S$10.9 million and other gains were S$1.76 million. The Group recorded a loss of S$29K, which was reduced by 98.4% as compared to a loss of S$1.81 million in FY2016.

In the past year, the new management team has led the Group to explore new business opportunities, reform management model as well as invest in projects with high return potential. These initiatives have contributed to enhance operational efficiency and reduce the loss significantly.

the company’s announcement on SGXNE.