Singapore-based feng shui consultancy New Trend Lifestyle Group reported a decline in first half revenues and a move from profit to loss.
In the six months to June 2014, revenues fell from S$5.62m to S$4.62m, while a profit of S$543,000 has been turned into a loss of S$863,000. Development costs in China were reduced. There are S$2.13 to the pound.
The strategy is to have fewer but larger stores in Singapore and there are seven active sites. There are also plans to acquire a complementary retail chain in China.
The feng shui-inspired beauty parlour La Queenz opened its first outlet recently.
There were $S1.11m of convertible loan notes issued during May. These are repayable at the end of 2016 and the conversion price is 10p a share. Net debt was S$1.62m at the end of June 2014. The payment date for a HK6m (£477,000) loan was extended and it was repaid at the end of July 2014.
At 5.5p a share, down 1.63p, New Trend is valued at £5.5m.
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