Cortina Holdings' Q4 profit up 28.5%

Singapore

LUXURY watch retailer Cortina Holdings on Tuesday posted a 28.52 per cent surge in its fiscal fourth-quarter net profit to S$6.7 million. The better profit attributable to shareholders for the three months ended March 31 came on the back of price adjustments by some watch brands, the appreciation of the Swiss franc and sales ahead of Malaysia's implementation of the Goods and Services Tax in Malaysia.

Including non-controlling interests, net profit was up 45.31 per cent at S$7.4 million.