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Courts Asia posts 31.6% decline in 1Q earnings to $6.1 mil on lower revenue and higher expenses

Michelle Zhu
Michelle Zhu8/11/2017 06:03 PM GMT+08  • 2 min read
Courts Asia posts 31.6% decline in 1Q earnings to $6.1 mil on lower revenue and higher expenses
SINGAPORE (Aug 11): Courts Asia, the retailer of electrical, IT and furniture products, announced a 1QFY17/18 net profit of $6.1 million for the quarter, down 31.6% from the $8.8 million it posted a year ago on lower revenue and higher expenses.
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SINGAPORE (Aug 11): Courts Asia, the retailer of electrical, IT and furniture products, announced a 1QFY17/18 net profit of $6.1 million for the quarter, down 31.6% from the $8.8 million it posted a year ago on lower revenue and higher expenses.

Revenue for the quarter fell 4.5% to $186.6 million from $195.3 million in the previous year due to lower contributions from Singapore on the back of lower sales of goods and earned service charge income.

In Malaysia, Hari Raya sales fell short of expectations as a result of weak consumer spending. In addition, the credit collection environment in the country remains challenging given the slower economy

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