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The Hour Glass posts 14% fall in 2Q earnings to $8.3 mil

PC Lee
PC Lee11/10/2016 05:19 PM GMT+08  • 1 min read
The Hour Glass posts 14% fall in 2Q earnings to $8.3 mil
SINGAPORE (Nov 10): The Hour Glass, the retailer of luxury watches, posted a 14% fall in 2Q earnings to $8.3 million, or 1.18 cents per share, from a year ago due to challenging business conditions and weakening consumer confidence.
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SINGAPORE (Nov 10): The Hour Glass, the retailer of luxury watches, posted a 14% fall in 2Q earnings to $8.3 million, or 1.18 cents per share, from a year ago due to challenging business conditions and weakening consumer confidence.

Revenue fell 7% to $163.1 million due to softer consumer sentiment.

For the six months ended Sept 30, earnings fell 18% to $16.5 million, or 2.34 cents, while revenue was down 7% at $311.3 million. Gross margins remained stable at 22.1%.

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