Design Studio Furniture Manufacturer, the interior fitting-out specialist, reported net profit after tax for the three months ended 30 September 2012 (3Q 2012) increased marginally to $2.4 million, compared to $2.2 million in 3Q 2011.
Revenue of $40.8 million for 3Q 2012, an increase of 102.1% from the previous corresponding period (3Q 2011) due to increased revenue arising from the acquisition of DDS Group earlier in the year.
During the quarter, the Residential, Hospitality & Commercial, and Distribution segments recorded revenue increases of 8.7%, 227.5% and 239.6% respectively. The positive performance was largely attributed to the on-going and completed projects from Hospitality & Commercial segment including W Singapore - Sentosa Cove, Lanson Place Bukit Ceylon Serviced Residences in Kuala Lumpur, Traders Hotel Buteri Harbour, Iskandar Johor Bahru, ITE Central College at Ang Mo Kio, as well as from the Residential segment such as Goodwood Residence, The Minton, The Interlace, The Estuary, Tree House and Hundred Trees.
Bernard Lim, CEO, said: “Having established a strong brand name and solid track record of delivering products and projects that are synonymous with innovation and quality, we are today a partner of choice with reputable, brand-name developers in Singapore and overseas. Our strong positioning has allowed us to secure new projects and strengthen on our order book to more than $250.6 million despite the on-going global economic uncertainties and challenging business conditions.”
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