Scan-D Corp (詩肯), which manufactures and sells teak furniture under the Scanteak brand, said that it has a positive sales outlook for the second half of the year, supported by the high sales season.
The Taoyuan-based company reported a net profit of NT$71 million (US$2.26 million), or earnings per share of NT$1.66, for the first six months, indicating a 31.7 percent decline from a year earlier.
The firm cited the sluggish economy in Taiwan for the decline in profits.
Despite a soft first half, the company said sales might pick up significantly in the coming months, supported by the recovery in demand and an expansive business strategy.
Taiwanese tend to avoid buying big-ticket items during the Ghost Month period, the seventh month of the lunar calendar, which started on Aug. 3 and ends on Aug. 31 this year.
After the Ghost Month, sales are likely to show an uptrend for the rest of the year, the company said.
Scan-D has adopted a multi-brand strategy and plans to expand its Scan Living brand, which was created in 2012.
The other brand, Scanteak, is known for its wooden furniture, while Scan Living features genuine leather sofa collections.
The number of Scan Living stores was nine in 2014, but rose to 18 in the first half of this year, generating 11 percent of the company’s total revenues, the company said.
The furniture maker operates 82 Scanteak stores and 18 Scan Living outlets in Taiwan.
It plans to open 15 to 20 new stores under both brands by the end of this year, the company said, adding that the expansion will materialize soon.
In addition, Scan-D aims to develop a third brand, Scankomfort, for the local market in the second half of the year.
The new brand will feature bedding products and the first Scankomfort store will open in Taoyuan, the company said.
Scan-D will continue to introduce collections by other brands to local customers, in keeping with its market segmentation plan, the company said.
Last year, the company entered into a partnership with Germany-based Nolte Group, the largest furniture maker in Europe, adding that it has acquired exclusive distribution rights in Taiwan for the group’s CS Schmal brand.
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