The increase was mainly driven by sales of groceries in the Indonesian market and demand for the Company’s tour packages in Singapore. Gross profit increased by 38.4% to $5.1 million from $3.8 million in the full year of 2022. Gross margin was approximately 8.3%, relatively flat compared to 8.4% in the full year of 2022, mainly attributable to the Company’s ongoing efficiency optimization initiatives.
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