Design Studio reported a 58.3% earnings decline to $1.9 million for 1QFY2016.
For the quarter to March, revenue fell 57.3% to $21.1 million, as fewer projects were completed from the residential property and hospitality and commercial business segments.
However, gross profit margins improved by 4.4 percentage points driven by the higher margins recorded for the projects completed during the quarter.
Marketing and distribution expenses decreased by 12.5% to $1.2 million on lower depreciation and staff cost.
General and administrative expenses decreased by 39.7% to $1.5 million due to an exchange gain, lower staff cost, as well as the global executive search fees that was recognized in 1Q2015 and was not repeated in the current quarter.
Design Studio says its expects the operating environment in its key markets to remain challenging for the year, and will focus on its core markets in Singapore and Malaysia, maintain its relationships with its business partners and customers to sustain recurring revenue and explore opportunities in new markets.
Given its order book of $223.3 million and strong cash position, Design Studio says it is expected to remain profitable for FY2016.
The group did not declare any dividends for the current quarter.
Design Studio’s shares closed 0.97% higher at 52 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
For the quarter to March, revenue fell 57.3% to $21.1 million, as fewer projects were completed from the residential property and hospitality and commercial business segments.
However, gross profit margins improved by 4.4 percentage points driven by the higher margins recorded for the projects completed during the quarter.
Marketing and distribution expenses decreased by 12.5% to $1.2 million on lower depreciation and staff cost.
General and administrative expenses decreased by 39.7% to $1.5 million due to an exchange gain, lower staff cost, as well as the global executive search fees that was recognized in 1Q2015 and was not repeated in the current quarter.
Design Studio says its expects the operating environment in its key markets to remain challenging for the year, and will focus on its core markets in Singapore and Malaysia, maintain its relationships with its business partners and customers to sustain recurring revenue and explore opportunities in new markets.
Given its order book of $223.3 million and strong cash position, Design Studio says it is expected to remain profitable for FY2016.
The group did not declare any dividends for the current quarter.
Design Studio’s shares closed 0.97% higher at 52 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment