Cortina Holdings Q4 profit up 52.57%, full-year profit slips 3.34%

LUXURY watch retailer Cortina Holdings has posted a 52.57 per cent rise in its fourth quarter net profit to S$7.85 million, on the back of price adjustments by some watch brands, the appreciation of the Swiss Franc and the imminent implementation of the Goods and Services Tax in Malaysia.

Revenue for the three months ended March 31 stood at S$122.7 million, a 7.49 per cent increase from the same quarter in 2014. Full-year revenue came up to S$404.7 million, a 2.5 per cent dip from 2014. Profit for the full year ending March 31 also dropped 3.34 per cent to S$17.27 million.

This translates into earnings per share of 9.2 Singapore cents for the quarter, down from the 11.1 Singapore cents per share for the same period a year ago.