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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