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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.