Lafe Corporation Limited Reports Unaudited Consolidated Earnings Results for the Year Ended December 31, 2016
Lafe Corporation Limited reported unaudited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported revenue of USD 11,610,000 against USD 12,626,000 a year ago. Loss before taxation was USD 10,903,000 against USD 36,804,000 a year ago. Net loss for the year was USD 9,782,000 or 38.61 cents per diluted share against USD 36,832,000 or 153.91 cents per diluted share a year ago. Net cash used in operating activities was USD 7,576,000 against USD 6,619,000 a year ago. Acquisition of property, plant and equipment was USD 37,000 against USD 30,000 a year ago. Net asset value per ordinary share was 218.6 cents against 257.4 cents a year ago. The decrease in revenue was mainly attributable to the decrease in rental income.