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Courts Asia posts 28.7% decline in 3Q earnings of $3.5 mil on lower profit margin

Michelle Zhu
Michelle Zhu2/13/2018 06:44 PM GMT+08  • 2 min read
Courts Asia posts 28.7% decline in 3Q earnings of $3.5 mil on lower profit margin
SINGAPORE (Feb 13): Courts Asia, the electrical, furnishing and consumer electronics retailer, announced earnings of $3.5 million for the third quarter of FY17, down 28.7% from its net profit of $4.9 million a year ago on lower gross profit margin and hig
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SINGAPORE (Feb 13): Courts Asia, the electrical, furnishing and consumer electronics retailer, announced earnings of $3.5 million for the third quarter of FY17, down 28.7% from its net profit of $4.9 million a year ago on lower gross profit margin and higher administrative expense.

Revenue for the quarter grew by 0.6% to $186.8 million from $185.6 million a year ago, mainly due to higher revenue contributions from Singapore due to the re-launch of its online platform and the re-opening of Courts Megastore at Tampines in Nov 2017.

This was however offset in part by a decline in revenue from Malaysia, due to lower sales of good and earned service charge income, while Indonesia revenue increased slightly by 1.8% in Rupiah currency terms due to contributions from newly-opened stores.

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