Furniture maker Koda has posted a 40.1 per cent increase in net profit to US$5.7 million (S$7.8 million) for the year ended June 30, up from US$4.1 million last year, thanks to improved economies of scale and higher earnings from its in-house brand, Commune.

Revenue rose 5.9 per cent to US$52.4 million, on the back of higher sales from Commune, said Koda, which counts the United States as its largest export market.

The higher revenue from Commune, along with improved economies of scale from higher capacity utilisation and supply chain efficiency, helped lift gross profit margin by 3.7 percentage points to 35.8 per cent.

It has declared a final dividend of 0.56 US cent and a special dividend of the same amount for the current financial year, against a final dividend of 0.74 US cent and a special dividend of 1.47 US cents in the previous year.

The group expects Commune's business to continue contributing positively to its financial results for the next 12 months. It noted that Commune has made progress in expanding its reach abroad, with the planned rollout of 100 stores in China by 2020 on track.

Commune opened its very first store in Manila recently, and expects to debut in Hong Kong, China in October.

Barring unforeseen circumstances, the group expects to remain profitable in the coming year.

Koda shares yesterday closed up half a cent at 71 cents.

Singapore's Koda will be in Furniture China 2018 during 9.11-9.14, the Booth NO:E1-D22

Exhibitor Preview: http://www.furniture-china.cn/blog/en/productpreview/intl/2326/

（Source: JJgle.com）