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The Hour Glass 1Q earnings double to $14.2 mil on improved consumer sentiment

Michelle Zhu
Michelle Zhu8/2/2018 07:26 AM GMT+08  • 2 min read
The Hour Glass 1Q earnings double to $14.2 mil on improved consumer sentiment
SINGAPORE (Aug 2): The Hour Glass has announced earnings of $14.3 million for the 1Q ended June, doubling from its 1Q18 earnings of $7 million due to improved margins and higher revenue.
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SINGAPORE (Aug 2): The Hour Glass has announced earnings of $14.3 million for the 1Q ended June, doubling from its 1Q18 earnings of $7 million due to improved margins and higher revenue.

Revenue for the quarter grew 10% on-year to $180.7 million from $164.4 million in 1Q18. The luxury watch retailer attributes this to improved sentiment in selective markets in the region.

Meanwhile, gross margin improved to 24.4% compared to 21.2% in the same quarter a year ago.

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