Courts Asia profit more than triples

Singapore

AMID a challenging retail environment in all its operating markets, mainboard-listed Courts Asia Limited reported on Wednesday a 247.6 per cent surge in full-year net profit to S$23.7 million .

For the year ended March 31, 2017, earnings per share came to 4.59 Singapore cents, up from a restated 1.29 cents for the previous year. Courts said that it has applied the new FRS 115 accounting standard issued by the Accounting Standards Council in its FY16/17 financial statements.