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Courts Asia's Q1 bottom line improves on lower costs, expenses
COURTS Asia's net profit for the first quarter ended June 30 rose 55.8 per cent to S$9.42 million from the year-ago period, on the back of lower sales costs and reduced expenses in finance as well as distribution and marketing.
For the three months ended June 30, revenue dipped 0.9 per cent to S$196.33 million from the preceding year. The decline in revenue was due to the marginal decrease in revenue from its Singapore operations as well as the depreciation of the Malaysian dollar.
Earnings per share jumped to 1.81 Singapore cents from 1.12 Singapore cents in the year-ago period.
The group said: "While Courts Asia anticipates challenges from macroeconomic uncertainties to affect consumer sentiments over the short-term and consequently, its operations, the group is of the view that the medium-to-longer-term outlook remains positive. It intends to continue increasing its productivity and enhancing its brand's value proposition so as to drive better overall returns."