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Challenger Technologies sees 3Q earnings rise to $3.3 mil

PC Lee Published on Fri, Nov 03, 2017 / 5:32 PM GMT+8

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SINGAPORE (Nov 3): Challenger Technologies, the IT products and services provider, reported 3Q17 earnings rose 90% to $3.3 million, or 0.96 cent per share, from $1.7 million a year ago.

This came on the back of an absence of impairment provision for investments in a last-mile delivery provider in 3Q16, higher gross profit and lower operating expenses contributed to the net profit increase.

Revenue rose 5% to nearly $78 million from $74.4 million, primarily driven by improved performance from IT products and services business segment, which grew 4.0% to $76 million in 3Q17 from $73.1 million in 3Q16. The stronger growth in this segment was attributed to revenue contribution from corporate sales division and retail operations.

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Challenger Technologies sees 3Q earnings rise to $3.3 mil