You are here

Cortina's Q3 profit down 8% at S$2.54m

CORTINA Holdings on Tuesday evening posted an 8 per cent dip in net profit to S$2.54 million for the third quarter ended Dec 31, 2016, despite a 4 per cent rise in revenue.

Revenue had increased to S$102.0 million, up from S$97.7 million a year ago.

Cortina said that operating expense, comprising staff cost, rental expense, depreciation and other expenses, rose 4.5 per cent, while operating expense for the nine-month period increased 2.2 per cent.

The higher operating expense was mainly due to higher rental expense resulting from the opening and expansion of outlets in Singapore.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to