We all look for guidance when time is tough, but there is one company who’s taking it to the extreme. Fortune-telling company New Trend Lifestyle Group is filing to go public at the London Stock Exchange and hopes to raise 1.5M pounds through the IPO.
New Trend Lifestyle Group is headquartered in Singapore and, according to the filing, its main business is offering services based on Feng Shui and Emperor Star Astrology. As hilarious as it sounds, the company cleared lots checks in the year prior. Its top line was 6M pounds and profit before tax was 1.4M pounds, pretty impressive for a small company with such a radical line of business.
But when I was looking at its income statement, what was going through my mind was, wow, how come so many people needed to go to the fortune-teller? Without being a customer, I can’t speak for the quality of the fortune-telling, but I wonder why so many got in the door in the first place? Enlighten me, if you would, you can send me your comments to our show or tweet me (@juliasun_onair). I’m Julia Sun for the Financial News Network, we’ll be right back.