Zheng Li Holdings Limited Reports Unaudited Consolidated Revenue Results for the First Quarter Ended 31 March 2018; Provides Earnings Guidance for the First Quarter Ended 31 March 2018
The Group is expected to record a loss for the three months ended 31 March 2018 as compared to a net profit of SGD 86,000 for the corresponding period in 2017. This was mainly attributable to: an increase in employee-related expenses including directors' fee as a result of the appointment of two executive Directors in April 2017 and June 2017, salary increments for existing employees and the increase in headcount for the opening of the new Sin Ming Autocity service centre which commenced operations in September 2017; and an increase in operating expenses for the Sin Ming Autocity service centre including the depreciation of plant and equipment, rental expenses and professional fees.