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The Hour Glass sees FY18 earnings rise 2% to $49.8 mil on better margins

Samantha Chiew
Samantha Chiew5/22/2018 05:45 PM GMT+08  • 1 min read
The Hour Glass sees FY18 earnings rise 2% to $49.8 mil on better margins
SINGAPORE (May 22): The Hour Glass, the purveyor of luxury watches, announced FY18 earnings increased 2% to $49.8 million from $48.7 million in FY17.
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SINGAPORE (May 22): The Hour Glass, the purveyor of luxury watches, announced FY18 earnings increased 2% to $49.8 million from $48.7 million in FY17.

Revenue for the FY18 ended March was 1% lower at $691.6 million from $696.1 million a year ago.

But gross margin for FY18 increased to 24.2% compared to 22.7% last year due to its on-going business reengineering that resulted in a notable improvement in the standards of its customer service delivery.

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