Golf equipment firm Transview reports 11% drop in full year profit
GOLFING equipment firm Transview Holdings has reported an 11 per cent drop in net profit to $906,000. Revenue for the year ended Oct 31 inched up by 1 per cent to $31.3 million.
Profit was lower despite a marginal increase in sale revenue, primarily due to higher operating costs. Higher retail revenue helped to offset the decrease in wholesale and golf management revenues.
Retail revenue increased by 4 per cent to $25.6 million, driven by higher sales in Singapore and Malaysia. Sales in these two countries increased by 7 per cent and 1 per cent respectively, due mainly to new products offering and promotional activities.
However, sales in Hong Kong fell by 25 per cent amid challenging market conditions. Wholesale revenue decreased by 9 per cent to $5.7 million in FY2012, attributed mainly to lower sales to Thailand and "other markets" which include Vietnam, Philippines, Taiwan and Myanmar.