[Caihua News] Star Asia Holdings (08293.HK) announced that in the three months ended October 31, 2021, the group's income was about 1.8217 million S $, an increase of 104.58% over the same period last year. The loss attributable to the owners of the company was 396200 S $, an increase of 80.2% over the same period last year. The loss per share is 0.03 slope cents.
The increase in revenue during the period was mainly due to an increase in revenue from manpower outsourced services. The overall gross profit of the Group increased from about S $267000 for the three months ended 31 October 2020 to about S $426000 for the three months ended 31 October 2021, in line with the increase in earnings. The overall gross profit margin decreased from about 29.9% for the three months ended 31 October 2020 to about 23.4% for the three months ended 31 October 2021. The decrease in gross profit margin is mainly due to increased labour costs and lower prices in order to remain competitive, particularly in the area of outsourced labor services.