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Courts Asia's Q1 net profit slumps 27.9% on higher costs, dip in sales

Published on Aug 13, 2014 10:04 PM

SINGAPORE - Poorer performance in Singapore amid a challenging market has led to a plummet in net profit for furniture and IT retailer Courts Asia.

Net profit for the first quarter ended June 30 dropped 27.9 per cent to $5.1 million.

Earnings fell as revenue dipped 1.5 per cent to $194.1 million.

Higher distribution, marketing and administrative costs also ate into the profit.

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