Benzinga | Sep 3, 2021 09:03AM EDT

KBS Fashion Group 1H Sales $12.7M, Up 183% YoY, EPS $(1.21), Same YoY

Total revenues for the first half of 2021 were $12.7 million compared to $4.5 million for the same periods in 2020. It is an increase of 183% from the same period in 2020 and exceeded the full year revenue of 2020 by 17%.

Total revenue from tourism, airfare and cross-border merchandize business segments for the first half of 2021 were $10.2 million compared to 0 million for the same periods in 2020.

Gross margin for the first half of 2021 were 6% compared to 26% for the same periods in 2020.

GAAP net loss and diluted loss per share for the first half year of 2021 were $5.0 million and $1.21, respectively, compared to net loss and diluted loss per share of $3.1 million and $1.21, respectively, for the same period in 2020.

Working capital was $13.3 million as of June 30, 2021. Cash and restricted cash totaled $14.1 million as of June 30, 2021.