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Tag: Koda

  • Koda’s Profit Skyrockets

    Koda’s Profit Skyrockets

    Furniture specialist Koda has reported a near fourfold rise in net profit for its third quarter thanks to growing exports, and increased sales of its Commune brand.

    Revenue for the period grew 22.5 per cent to US$13.4 million, while net profit was $1.2 million.

    Earnings for the first nine months soared 60.4 per cent to $3.6 million, closing in on net profit of 4.05 million for the entire year to the end of June.

    Barring unforeseen circumstances, the group expects its performance to improve.

    “Our third-quarter net profit jumped by more than 260 per cent,” says Koda MD James Koh. “Our China expansion plans have also exceeded my expectations.”

    Commune CEO Joshua Koh says its plan to have 100 stores in China by 2020 is well on track. We are thankful to Enterprise Singapore and the Info-communications Media Development Authority for supporting our growth strategies.”

    Commune has 45 stores in China as well as outlets in Singapore, Malaysia and Australia.

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  • Koda is off to a flying start

    Koda is off to a flying start

    Expansion in China of its in-house brand Commune has kickstarted the latest fiscal year for Singapore furniture group Koda.

    With seven more Commune stores on the mainland, coupled with rising exports, Koda’s first-quarter net profit jumped 64 per cent to US$1.4 million while revenue rose 4.5 per cent to $12.3 million.

    This, coupled with lower production costs, improved economies of scale and more efficient supply chain, lifted the group’s gross profit margin by 6.1 points to 34.5 per cent.

    At the end of the quarter on September 30, Commune had 50 outlets across Singapore, China, Malaysia and Australia, and says it is on track to setting up 100 outlets in China by 2020. Over the next 12 months, Commune will be rolled out in fresh markets within Asia.

    In China, Commune is seen as being different, even avant-garde, says Commune CEO Joshua Koh. “Commune’s growing appeal among younger home-owners gives us confidence to roll out more stores in China and elsewhere in Asia.”

    Founded in Singapore in 1972, Koda is an original design manufacturer that has production and sourcing bases in China and Vietnam, plus a specialist manufacturing plant in Malaysia. Established in 2011, Commune Lifestyle is a wholly owned subsidiary managed by the third generation of the founding Koh family.

  • Commune parent Koda boosts profit 156 per cent

    Commune parent Koda boosts profit 156 per cent

    Furniture retailer Commune parent Koda Ltd has boosted its annual profit by 155.6 per cent in the last year, largely due to expansion of its store network.

    In the year to June 30, the company achieved sales of US$4.1 million, up from $1.6 million last year.  Revenue rose by a more modest 33.4 per cent to $49.5 million, up from $37.1 million the previous year as strong export orders were received from key markets.

    Streamlined manufacturing operations in Malaysia and Vietnam helped gross profit margin rise from 27.7 per cent to 32.2 per cent.

    Koda’s MD James Koh said even better figures are to come, after the strategic review announced in July in which Koda will continue to improve manufacturing efficiencies, strengthen its supply chain and refine and expand its Commune retail store network, especially in China.

    Joshua Koh, Commune’s CEO, added: “Commune is gaining strong traction in China, especially among younger home-owners. We continue to build the brand and differentiate ourselves as we remain on schedule to open up to 100 stores in China by 2020.”

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  • Commune Lifestyle parent Koda reports solid rebuilding

    Commune Lifestyle parent Koda reports solid rebuilding

    Koda, the parent of furniture retailer Commune Lifestyle, has reported a net profit of US$2.2 million for the nine months to the end of March, a 66.9 per cent increase over the same period last year.

    And the group’s gross profit margin rose to 27.7 last year from 23.6 per cent in 2014, and reversing two years of losses, the group had a net profit of $1.6 million for the financial year to June 30 last year. It attributes this to marketing, revised business strategies and restructuring.

    Koda is an original design manufacturer specialising in design-intensive household furniture for the upper middle class. Commune Lifestyle, led by the third generation of the founding Koh family, is a wholly owned subsidiary of Koda that runs four stores in Singapore, three distributor-retail (DR) stores in Malaysia and 35 DR stores in China, as well as one brand-in-store presence in Australia. It is planning to expand its DR network and set up another hub in eastern China.

    During the year to June 30, Commune added 17 DR outlets in China. There are more than 40 outlets, mainly in China.

    Meanwhile, the group has been streamlining. It has consolidated its production units, relocated factories out of China, disposed of the loss-making retail business Rossano in Vietnam, and disposed of certain non-core assets for cash.

    Koda is headquartered in Singapore with manufacturing plants in Vietnam (Ho Chi Minh City) and Malaysia (Johor and Senai). It sells to more than 50 countries, mainly Asia and the US.

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