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Challenger Tech Q3 net profit up 44%

IT products and services provider Challenger Technologies on Friday posted a net profit of S$4.5 million for the third quarter ended Sept 30, up 44 per cent from a year ago, on the back of improved trade show and corporate sales performance, as well as lower operating expenses from cost-control efforts. 

Revenue ticked up 6 per cent to S$82.5 million, primarily due to higher contribution from IT products and services.

Earnings per share stood at 1.31 Singapore cents for the quarter, up from 0.91 cent.

No dividend was declared.

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The group said that it continues to remain cautious about the outlook and condition of the overall retail business environment.

It will also continue to execute the ongoing cost-management measures across the group. It will also aim to increase its revenue from its omnichannel retailing and further strengthen its market position, the company said.

The group has a total retail network of 38 stores in Singapore.

It added that it will continue to explore business opportunity with strategic partners to grow its business in architectural and commercial lighting projects.