The Hour Glass Q3 profit dips 2% to S$14.5m

Singapore

WATCH retailer The Hour Glass on Tuesday reported a marginal 2 per cent slip in net profit to S$14.51 million for the third quarter ended Dec 31, 2015.

Revenue for Q3 FY2016 was flat at S$186.37 million, while other operating expenses surged 74 per cent to S$4.4 million.

Said The Hour Glass: "Operating expenses were higher due to the group's expanded retail network and a further S$2 million donation made to commemorate the celebration of Singapore…