The Hour Glass reports 4% rise in full year earnings to $54.9 million
Published on May 28, 2014 7:02 PM
The Hour Glass has clocked up a 4 per cent rise in net earnings to $54.9 million.
Revenue for the year ended March 31 rose by 13 per cent to $682.8 million.
The luxury watch retailer claimed a record year in which broad-based improvement from its retail network across the region and incisive management led to a robust performance.
Hour Glass said it outperformed several closely monitored industry benchmarks which comprised expansion of revenue, maintainence of profitability, efficient cost management, improvement on inventory turnover days and increasing overall cash balance.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!