Challenger's Q1 profit down 15% on weak retail and corporate sales

Singapore

CHALLENGER Technologies on Tuesday evening posted a 15 per cent slide in net profit for its first quarter ended March 31, 2017, after being hit by weak retail and corporate sales.

The group said that net profit had fallen to S$3.2 million from S$3.8 million a year ago. Revenue had decreased 15 per cent to S$76.5 million, on the back of weak retail operations and lower contribution from corporate sales and trade shows.