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Are the good times over for Singapore’s listed watch retailers?

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Raphael Lim

Raphael Lim

Published Wed, Jun 28, 2023 · 05:00 AM
    • Both The Hour Glass and Cortina have reported lower revenue growth for their H2 ended March, and year-on-year declines in net profit.
    • Both The Hour Glass and Cortina have reported lower revenue growth for their H2 ended March, and year-on-year declines in net profit. PHOTO: BT FILE

    SHARES of Singapore’s listed luxury watch retailers have corrected over the past year, following a spectacular run-up in the immediate period post-pandemic.

    Both The Hour Glass (THG) and Cortina Holdings have fallen around 12 to 13 per cent since June 2022, compared with gains of 2.5 per cent in the benchmark Straits Times Index (STI), as growth in revenue slowed.

    This reversed the extraordinary boom between March 2020 and March 2022, during which the share prices of both players rose over 300 per cent, as demand for luxury timepieces soared during the pandemic.

    Hock Lock Siewthe hour glasscortinaConsumer goodsSpotlight

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