Courts Asia in the red for Q3 with loss of S$171,000

Singapore

MAINBOARD-LISTED Courts Asia posted a net loss of S$171,000 for its third quarter ended Dec 31, compared to a net profit of S$3.51 million for the same period a year ago, on the back of lower gross profit margins and revenue as well as higher income tax expenses.

Revenue for the group stood at S$175.3 million for Q3, down 6.2 per cent previously. Singapore's revenue, which contributed 76.2 per cent of the group's revenue in Q3, dipped 0.7 per cent due mainly to lower earned service charge income.