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Lower Q2 profit for The Hour Glass
WATCH retailer The Hour Glass reported an 18 per cent slide year on year in net profit to S$9.65 million for the second quarter ended Sept 30.
Revenue rose 6 per cent to S$175.32 million, while earnings per share clocked 1.37 Singapore cents, down from 1.67 cents.
For the six months ended Sept 30, net profit was flat at S$20.12 million, while revenue increased four per cent to S$334.66 million.
"Weak global economic factors are expected to affect consumer sentiment and the demand for luxury goods, including watches," it warned.