YOMA Strategic : Z59 0% on Thursday (Nov 9) said it narrowed its net loss to US$2.5 million for the six months ended September, compared with a net loss of US$8.5 million posted in the same period the previous year.

The results translate to a loss per share of US$0.0012, compared with US$0.0039 recorded in the first half of 2022, the group said.

The results came as revenue climbed 172.8 per cent year on year to US$111.6 million from US$40.9 million, after the group included its subsidiary Wave Money in its financials with effect from December 2022. (*see amendment note)

Revenue of all business segments improved. Yoma Land Development comprised 42.9 per cent of total revenue, and Yoma F&B (food and beverage) comprised 15 per cent.

The group’s Yoma Land Development segment raked in US$47.9 million during the half-year period, up 243.4 per cent from the US$14 million recorded in the same period the year before.

Wave Money added US$29.1 million to its mobile financial services segment. In the same period last year, Wave Money’s results were recognised as a share of profits in an associated company and were not recorded in H1 2022’s revenue figures.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Yoma F&B’s revenue, meanwhile, rose 47.3 per cent to US$16.7 million from US$11.3 million, supported by business from the group’s KFC and YKKO restaurants.

The board did not recommend any interim dividend for the H1 period, unchanged from the year before.

Yoma Strategic’s shares closed 3.9 per cent or S$0.003 higher at S$0.08 on Thursday.

*Amendment note: A previous version of this story misstated the percentage change for the group’s revenue. The article has been amended to reflect this change.