Design Studio Furniture Manufacturer Ltd, one of the leading furniture companies in Singapore, has recorded a net profit of S$15.3 million on the back of S$93.2 million in revenue for the financial year ended 31 December 2011.
“We are delighted to deliver our 21st consecutive quarter of profitability, leveraging on our inherent strengths and making strategic moves to grow our business in new and existing markets,” said Bernard Lim, Executive Chairman and Chief Executive of Design Studio.
“Despite the global economic challenges, the Group made a strong start to the year by securing several high-profile projects recently with world-renowned developers who recognise our quality products, innovative approaches and unparalleled service, bolstering our combined order book (Design Studio Group & DDS Group) to an impressive S$234.2 million as of 17 February 2012.”
The company continued to grow its business overseas during the period with revenue contributions from both Malaysia and the UAE climbing to 14.5 percent in 2011, while contributions from Singapore reached 68 percent last year.
In addition, it clinched two high-end condo projects from leading developers – CDL’s The Glyndebourne development in Bukit Timah and OUE’s Twin Peaks condo on Leonie Hill Road.
Design Studio is also in the process of completing its first 40,000 sq ft, three-storey showroom-cum-sales office in Dongguan, China to engage developers and retail customers in China as part of its expansion in the country.
“With the group’s solid track record of delivering quality products and services that would meet the new, sophisticated demands of China’s growing affluent class, the group believes China’s market offers many opportunities to expand our business,” said Lim.
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