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The Hour Glass reports 4% rise in full year earnings to $54.9 million

Published on May 28, 2014 7:02 PM
 
A Malmaison by The Hour Glass store at Knightsbridge, Orchard Road. The Hour Glass has clocked up a 4 per cent rise in net earnings to $54.9 million. -- PHOTO: THE BUSINESS TIMES FILE

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.

 
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