Cortina Holdings reported earnings of $25.4 million for the 1HFY2022 ended September, 74% higher than earnings of $14.6 million in the same period the year before.
Earnings per share (EPS) for the half-year period stood at 15.4 cents from 8.8 cents in the 1HFY2021.
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Revenue for the 1HFY2022 surged 87% y-o-y to $324.6 million, mainly due to the easing of restrictions in Singapore and Thailand.
The acquisition of Sincere Watch Limited Group in March 2021 also contributed to the higher revenue in the half-year period.
1HFY2022 sales margin improved by 1.8 percentage points to 30.2%.
Operating expenses were up by 81.6% y-o-y to $63.9 million. The higher expenses were also due to the acquisition of Sincere Watch.
Cash and cash equivalents as at end-September stood at $160.2 million.
No dividend has been recommended for the period.
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According to the group, it will continue to remain profitable barring unforeseen circumstances.
Shares in Cortina closed flat at $3.80 on Nov 11.