Wholesalers’ profit down

Wholesalers saw their revenues jump on growing demand last year, but their ability to generate cash from a variety of operating activities fell on worsening profitability as a result of cut-throat competition.

According to data compiled by Yakup Shinmoon, Thursday, the combined revenue of 104 wholesalers rose average 14 percent in 2010 from a year earlier.

But their profitability deterior...