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.