| |
SINGAPORE: Singapore-listed furniture maker Koda has narrowed its fourth quarter loss to US$82,000 from US$500,000 a year ago.
Revenue for the three months ended June fell 22.1 per cent to US$8 million. For the full year, the company reported a net loss of US$297,000, reversing a US$4.2 million net profit a year earlier.
Koda said the severe downturn in consumer confidence has hurt the demand for its furniture products. However, it has seen encouraging signs in recent months, particularly among US retailers.
Given this trend, Koda said it is hopeful that 2010 will be an improvement over 2009. Barring unforeseen circumstances, it expects to return to profitability for the next financial year.
- 938LIVE/so
|
