Design Studio's Q1 earnings make a near triple jump to $2.1m

DESIGN Studio's first-quarter net profit almost trebled despite a fall in revenue.

Net profit for the three months ended March 31, 2014, was $2.1 million, up from $716,000 a year ago, owing to higher margins and lower marketing and distribution expenses, the furniture manufacturer said yesterday.

Revenue fell 12 per cent to $25.1 million from $28.5 million, as a result of a decrease in contribution from all segments, particularly hospitality and commercial.