Best World International sales take a dip, but lower expenses drive profit up 36%
SALES at beauty products distributor Best World International took a dip in the three months to end-September as improving China export sales failed to make up for a plunge in Taiwan activities.
Revenue for its third quarter ended Sept 30, 2017, was S$46.8 million, down 10 per cent from a year ago.
Nevertheless, net profit rose 36 per cent to S$12.2 million, driven by lower distribution and administrative costs.
"Management is cautiously optimistic of the group's profitability for the next reporting period and for 2017, and that the decline in Taiwan will be sufficiently buffered by growth of the group's export segment," the company said.
Best World last traded at S$1.415, up S$0.025 or 1.8 per cent, before results were out.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
Hong Kong bourse regains favour on hopes of a market revival
Chinese sellers go to TikTok school to reach buyers abroad
Gold prices set for weekly decline ahead of US inflation data
Huawei’s new phone sports latest version of made-in-China chip
Meta’s earnings flop sparks US$400 billion sell-off in tech stocks