Acer’s profit drops

TAIPEI: Taiwan’s struggling personal computer maker Acer said on Thursday its net profit fell 73 per cent year-on-year in the first three months to March due to huge losses from foreign exchange. The company, once the world’s second largest PC maker, reported a net profit of 46 million Taiwanese dollars in the first three months, compared with 173 million Taiwanese dollars in the same period last year, it said in a statement. Consolidated revenue came in at 56.32 billion Taiwanese dollars, down from 67.95 billion Taiwanese dollars in the 2015 first quarter, it added, saying the figures reflected around 900 million Taiwanese dollars of losses in foreign exchange due to the appreciation of the local currency. The company did not give further details for the decline in consolidated revenue.