Cortina's Q2 net income boosted by improved sales margin
LUXURY watch retailer Cortina Holdings built upon a robust first quarter to report a higher net profit for its second quarter ended Sept 30, 2018.
Its bottom line grew 12 per cent to S$6.6 million, from S$5.9 million the year before.
Its revenue was, however, down 5 per cent year-on-year to $110.8 million.
But its sales margin for the quarter was 24.6 per cent, compared to 23.4 per cent in the last corresponding quarter.
The group's earnings per share was four Singapore cents, from 3.6 Singapore cents. It did not declare any dividends for the period.
Cortina said that it expects market conditions to remain competitive in all the markets that it operates in. It added that it will "continue to engage regional customers whose purchasing power and affluence have been on the rise in recent years".
Barring unforeseen circumstances, it said, it expects to remain profitable.
Cortina shares finished 0.5 cents down on Thursday, at $0.95.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Brokers’ take: SAC Research initiates ‘buy’ on Soilbuild with S$0.04 target
Aramco to pay US$31 billion dividend as Saudi posts budget deficit
PetroVietnam announces new oil discoveries with initial reserves of 100.5 million barrels
UBS reports first profit since taking over Credit Suisse
Amazon’s AWS commits extra S$12 billion to boost Singapore cloud infrastructure
New Thai finance chief wants monetary, fiscal policies aligned