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Asia Strategic Holdings Ltd - Singapore-based developer and operator of consumer businesses located in emerging Asia - In the six months ended March 31, pretax loss narrows to $2.6 million from $2.9 million in the same period the previous year. Revenue rises 8.7% to $8.3 million from $7.6 million, despite the company's performance being ‘severely’ affected by Covid-19 related closures in Vietnam between November and February. Looking forward, the company says the diversification of its operation between Vietnam and Myanmar will play an important role in mitigating any further pandemic risk.
Chief Executive Enrico Cesenni says: ‘As the Covid-19 related restrictions were gradually lifted from November in Myanmar and February in Vietnam, the group has experienced a strong rebound in its operating businesses, particularly within consumer facing brands such as Wall Street English and Auston.
‘It is worth noting that revenues grew across both Education (7% year-on-year) and Services (12% year-on-year) and that the group continues to benefit from commercial momentum that is driven by pent-up demand and the limited spending options available to customers, particularly in Myanmar,’ he continues.
Current stock price: $6.50, untraded in London on Tuesday
Year-to-date change: down 40%
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