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Cortina's 3Q earnings more than double to $5.6 mil on higher revenue

Michelle Zhu
Michelle Zhu • 1 min read
Cortina's 3Q earnings more than double to $5.6 mil on higher revenue
SINGAPORE (Feb 9): Luxury watch retailer Cortina Holdings posted earnings of $5.6 million for the third quarter of FY18. This is more than double its earnings of $2.5 million a year ago on higher revenue.
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SINGAPORE (Feb 9): Luxury watch retailer Cortina Holdings posted earnings of $5.6 million for the third quarter of FY18. This is more than double its earnings of $2.5 million a year ago on higher revenue.

Revenue for the quarter grew 20% to $122.9 million from $102 million in 3Q17.

Sales margin grew 22.8% from 22.1% in the last corresponding period.

Meanwhile, operating expenses grew 10.8% or $2 million.

For the nine months ended Dec 2017, Cortina’s earnings almost doubled to $14.5 million from $8 million in 9M17, with $15.1 million of revenue compared to $8.5 million a year ago.

The group says it expects market conditions to remain competitive in all of the markets that it operates in, while the state of the global and regional economy will continue to have a bearing on its performance.

Looking ahead, Cortina says it will continue to adapt cost-saving measures and aim to achieve an even better performance going forward.

Shares in Cortina closed flat at 78 cents on Friday.

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