Cheetah’s earnings fall 93% in first quarter

PETALING JAYA: Cheetah Holdings Bhd saw its net profit for the first quarter ended Sept 30, 2015 dip 92.5% to RM124,000, compared with RM1.6 million in the previous corresponding quarter, mainly due to lower margins and revenue.

Revenue was down 15.6% to RM30.7 million, against RM36.3 million a year earlier, attributed to weaker consumer spending and a slowdown in the economy.

On its prospects, Cheetah expects another challenging year ahead, faced with weak consumer spending in the retail apparel industry and aggressive competition.

The company said however that it is taking steps to introduce new brands and product lines and control/reduce its costs to turn in a positive performance in the current financial year.

Its basic earnings per share in the first quarter amounted to 10 sen.