Corporate Express quarterly profit falls 25%

Corporate Express quarterly profit falls 25%

IT and business solutions provider Corporate Express (ASX:CXP) has revealed that its net profit fell 24.9% in the March quarter on rising expenses and continued market depression.

The company posted a net profit of $8.4 million, on 2.7% lower revenue of $285.9 million.

Corporate Express said operating expenses had increased 3.1% due largely to one-off employee charges, investments in marketing and costs associated with increasing its sales force.

It added that demand for its products is likely to remain subdued in the Australian and New Zealand markets in the current quarter.

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