Koda full-year profit more than doubles

Singapore

FURNITURE maker Koda Ltd posted on Tuesday a more than doubling in full-year earnings on the back of higher revenue and higher gross margins and despite a fall in other income.

Net profit for the 12 months ended June 30, 2017, shot up 147 per cent to US$4.05 million from US$1.64 million. This was propelled by improved efficiencies in ODM (original-design manufacturing) and expansion of its retail brand Commune.