Cortina's Q2 FY2016 profit down 24%

CORTINA Holdings reported a 24 per cent drop in net profit to S$2.14 million for the second quarter ended Sept 30, against a 4 per cent decline in revenue.

Revenue for the quarter came to S$89.3 million while earnings per share were 1.3 Singapore cents, falling from 1.7 cents a year ago.

For the six-month period, net profit was up 29 per cent to S$5.43 million while revenue edged up 4 per cent to S$182.7 million.

Cortina said: "Market conditions will remain competitive in all the markets that the group operates in. The state of the global economy will continue to have a bearing on the group's performance."