DSG publishes results for six months ended 30 June 2019Aug 14 ,2019
Depa PLC (“Depa”), the leading global interior solutions group, reports that on 8 August 2019, Design Studio Group Ltd (“DSG”), Depa’s Asian key business unit, published its results for the period ended 30 June 2019.
DSG announced that for 1H2019, DSG’s revenue has decreased by 42.5% to S$51.5 million as compared with revenue for 1H2018 due mainly to lower revenue recognised in the Singapore, Malaysia and manufacturing business units, while the Group recognised an increase in revenue in its International business unit. DSG recognised impairment losses of S$6.9 million on contract assets and receivables in 1H2019 mainly attribuatble to the Malaysia and Singapore business units. As a result, DSG incurred a net loss after tax of S$18.5 million for 1H2019 (1H2018: S$1.3 million profit).
DSG’s backlog as at 30 June 2019 was S$164.0 million as compared with S$157.1 million at 30 June 2018.
DSG’s results can be viewed by investors on DSG’s website and/or on SGXNET.
For further information, please contact:
Tel: + 971 4 446 2100
Kevin Lewis, Group Chief Executive Officer
Steven Salo, Group Chief Financial Officer
For more information, please refer to the corporate website: www.depa.com
Notes to editors:
Depa is a strategic management company specialising in global interior solutions. Depa’s four key business units hold leading positions in their respective markets: Design Studio, Vedder, Depa Interiors and Deco Group. Employing thousands of people worldwide, the Group’s operations are centred on three regional hubs: Asia, Europe and the Middle East.
Depa’s mission, shared by each of its key business units, is to deliver sustainability, profitability and performance for its clients, shareholders and employees. The Group’s five core values are integral to everything Depa does: transparency, integrity, accountability, professionalism and exceptional service.
Depa PLC is listed on the Nasdaq Dubai (DEPA: DU) and is headquartered in Dubai, United Arab Emirates.