Popular Holdings books a 47.5% rise in third quarter profit

Mainboard-listed books retailer Popular Holdings said on Friday that its third quarter profit rose by 47.5 per cent to S$7.85 million.

The increase came on the back of a 6.6 per cent improvement in turnover to S$147.2 million and a 70 per cent fall in its other operating expenses.

For the third quarter ended in January, Popular said the biggest contributor to its result was its property development division.

The division had successfully sold all the units of its maiden “One Robin” project.

Popular added that improved headline performance in its retail operations and effective cost control were also key reasons for the improvement.

Going forward, the firm said it is confident that it will be able to weather the global economic uncertainties and continue to grow its market share.

Source : Channel NewsAsia – 12 Mar 2010

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