Serial System Q2 profit jumps 36%

LIFTED by higher sales, electronics components distributor Serial System's net profit for the second quarter ended June 30, 2014, surged 36 per cent year on year to US$5.01 million.

Revenue climbed 28 per cent to US$262.92 million, boosted partly by higher turnover from North Asia while earnings per share increased to 0.55 US cent from 0.41 US cent previously. Gross profit margin fell to 8.6 per cent during the quarter under review, down from 9.2 per cent in Q213 as the group's Greater China and Singapore subsidiar…