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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.

sentifi.com

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