Better sales, lower costs boost Popular's Q1 profit

Singapore

BETTER sales and lower operating expenses helped boost Popular Holdings' first-quarter net profit by 76.8 per cent to S$9.4 million for the three months ended July 31, 2014.

"Other operating expenses (aside from administrative, distribution and selling costs) decreased by S$3.3 million to S$0.3 million as a one-off impairment loss of S$3.1 million on two 18 Shelford units was recognised in Q1 FY2014," it said.