Challenger Q1 profit falls 26% to $3.4m

WEAKER corporate business in Singapore and lower retail sales in Malaysia have pulled down Challenger Technologies' net profit by 26.1 per cent for the first quarter ended March 31, 2014.

Net profit fell to $3.4 million, from $4.6 million a year ago; revenue dropped 15.2 per cent to $85.4 million, from $100.7 million previously.

Earnings per share were down 27.8 per cent at 0.96 of a cent, from 1.33 cents previously.