Courts Asia makes higher sales but lower profits
Published on May 29, 2014 9:09 PM
SINGAPORE - Furniture and IT retailer Courts Asia saw its net profit fell by 38 per cent to $7.8 million in the fourth quarter.
This was despite revenue for the three months to March 31 rising by 9.8 per cent to $207 million.
It was the same story for the full year, with net earnings plunging by 31.6 per cent to $28.3 million on the back of a 4.6 per cent increase in revenue to $830.3 million.
The profit fall was due to lower other income and gains, and higher administrative and finance expenses as the group expanded its footprint and operations in the region.
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