Procurri returns to black in Q4 on stronger gross profit margins

PROCURRI Corporation, an enterprise hardware supplier, reversed into the black for its fourth-quarter net profit on stronger gross profit margins, it said on Monday.

Net profit for the three months ended Dec 31, 2018 stood at S$1.67 million, reversing from a net loss of S$1.26 million posted the same period a year ago. 

Revenue rose 7 per cent from a year ago to S$52.07 million. 

The group's overall gross profit margin increased by 4.9 percentage points to 38.9 per cent in Q4 2018, in part as the gross profit margin in the IT distribution business segment rose from a few higher margin deals that were booked during the period. Staff costs decreased 6.3 per cent year-on-year as a result of lower staff cost in the Asia Pacific and the Americas.