Design Studio Furniture Manufacturer, the furniture manufacturer and interior fitting-out specialist, reported a net profit after tax of $2.2 million for 3Q ending Sept 2011, a decline of 56.7% from $5.1 million in 3Q 2010.
3Q 2011 revenue was $20.2 million compared with $30.3 million in 3Q 2010, representing a 33.3% decline, due to a lower number of projects completed across all business segments during the period.
With fewer projects completed and additional costs recognised during this period, the group also recorded a loss of $824,000 this quarter from associate company, DDS Group, compared to a profit of $260,000 in 3Q 2010.
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