Design Studio Q4 profit rises to $6.25m
FURNITURE manufacturer Design Studio Group's net profit for the fourth quarter ended Dec 31 shot up to $6.25 million from $2.38 million previously.
Revenue rose 17.9 per cent to $63.4 million, thanks to higher contributions from all segments, especially the hospitality and commercial projects completed in the quarter under review. Earnings per share for the quarter worked out to 2.4 cents, up from 0.92 cent previously.
Gross margin increased from 16.9 per cent in Q4 2012 to 19.3 per cent in Q4 2013, boosted by higher margins in projects completed during the quarter as well as greater cost efficiencies achieved by its China production facility.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Vodafone gets green light for 5 billion euros sale of Spanish business
US dollar slips after unexpected rise in US producer prices
TSMC says construction of first European plant on track to start in fourth quarter
ESR attempts to suspend Sabana Reit’s May 24 EGM
US: Wall St nearly flat at open after hot inflation data
Miyoshi chief executive charged over accounting irregularity