Singaporean leather furniture maker, HTL International Holdings, has posted a 52% jump in first quarter profits.

For the three months ended March 31, net profits totalled $7.7 million on the back of a 13% rise in turnover, to $100.5 million, with the company’s sofa business accounting for $79.3 million of the total, a 27% improvement on the year before. However, revenues from the leather business slipped 4% to $58.9 million, while the company’s cut-and-sew operations earned $3.3 million, a 1.4% rise on the year before.  

Share this story: