Stationery & Office Supplies has reported a sharp 51 per cent drop in net profit before tax — down to $23.1 million, despite a 3.5 per cent increase in revenues during the second quarter of this year.
That's compared to net profit before tax of $47.4 million on revenues of $433 million during the corresponding period last year.
For the first six months of this year, net profit before tax fell by 31 per cent to $107 million on revenues of $985.2 million.
This compares with $156.7 million on revenues of $957.6 million for the first half of last year.
The company says the decline was due to expenses climbing nine per cent, from $391.1 million to $427 million.
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