PRG Holdings Berhad Annual Report 2018

CHAIRMAN’S STATEMENT 2018 A N N U A L R E P O R T 10 Dear fellow shareholders, On behalf of the Board of Directors, it is my honour and privilege to present to you the Annual Report for PRG for the financial year ended 31 December 2018 (“FY2018”). In FY2018, PRG recorded a loss before tax of RM5.3 million on the back of revenue of RM148.6 million. The loss before tax represents a decrease of RM11.8 million as compared to restated profit before tax of RM6.5 million recorded in the same period of the preceding year, while revenue decreased by RM10.0 million as compared to the restated revenue of RM158.6 million posted in the previous year. The Group’s revenue was impacted by the uncertainty in the global market as a result of the on-going trade spat between the United States and China. The decrease in profit for Manufacturing Division mainly due to lower revenue from sales of various products and increase in raw material costs. The profit of the Group was also impacted by additional post-listing administrative and corporate expenses as well as start-up expenses incurred for our retail division in Singapore.