Serial System eyes US$1b sales by end of year

Singapore

SERIAL System expects to hit its US$1 billion revenue target by the end of this financial year. This comes as the electronic-parts seller on Tuesday reported a 50 per cent boost in net profit for the third quarter compared to a year ago, on higher sales.

Net profit for the three months ended Sept 30, 2014 stood at US$4.32 million, up from US$2.87 million. This translated to earnings per share of 0.49 US cents, up from 0.32 US cents a year ago.