Electronic appliance distributor Choo Chiang Holdings posted a 43.3% fall in earnings to $2.2 million in its maiden six months financial results ended June.
The weaker bottomline came on the back of a 9.9% fall in revenue to $31.6 million.
Choo Chiang blames the fall in revenue to a reduction in selling prices for the group's electrical products and accessories, in an effort to maintain price competitiveness.
Cost of sales fell by 6.3% to $24 million due to a purchase price reduction of certain products.
Choo Chiang is cautious of its business prospects and it still intends to expand its retail network stores. It also intends to expand its range of products under the CCM and CRM brands.
Shares of Choo Chiang closed 1.41% lower at 35 cents.
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The weaker bottomline came on the back of a 9.9% fall in revenue to $31.6 million.
Choo Chiang blames the fall in revenue to a reduction in selling prices for the group's electrical products and accessories, in an effort to maintain price competitiveness.
Cost of sales fell by 6.3% to $24 million due to a purchase price reduction of certain products.
Choo Chiang is cautious of its business prospects and it still intends to expand its retail network stores. It also intends to expand its range of products under the CCM and CRM brands.
Shares of Choo Chiang closed 1.41% lower at 35 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
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