Hour Glass Q2 profit slips 6% on rising operating costs

LUXURY watch retailer The Hour Glass saw net profit slide 6 per cent year-on-year to $9.46 million for the second quarter ended Sept 30, as margins came under pressure.

This is despite a 14 per cent increase in total revenue and other income to $160.96 million, on the back of an expanded retail network and increased marketing activities.

Earnings per share for the quarter worked out to 4.02 cents, down from 4.27 cents in the corresponding quarter a year earlier.