KITCHEN Culture Holdings saw its 2019 full-year net loss narrow to S$3.7 million from S$4 million last year, though the supplier of high-end kitchen systems continued to face a slump in its residential projects, as well as its distribution and retail segments.
Revenue slipped 26.7 per cent to S$10.5 million, attributable to lower contributions from its residential projects segment by 40.5 per cent, or S$2 million; and from its distribution and retail segment by 19.2 per cent, or S$1.8 million. Based on deposits received from customers, the group's order book for kitchen appliances and kitchen systems stands at S$4.5 million. There are also plans to add new brands of appliances to the group's portfolio of products, the company said.
Source: News Formal (newsformal.com)
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