Courts Q3 profit up 1.7% despite S'pore sales dip

Singapore

COURTS Asia Limited yesterday posted a 1.7 per cent rise in net profit to $6.27 million from $6.17 million for the fiscal third quarter ended Dec 31, 2013.

The furniture, electronics and IT retailer said turnover rose 4 per cent in the quarter to $203.3 million. Singapore sales, which accounted for 67 per cent of group sales, registered a 2.9 per cent decrease in Q3 compared to a year ago, due to lower digital and electrical product sales. The fall was due to weaker consumer demand and lower bulk sales.