Cortina sees 1Q earnings double to $3.3 mil

SINGAPORE (Aug 11): Cortina, the retailer of luxury timepieces, saw 1Q earnings double to $3.29 million, or 2 cents per share, from $1.42 million a year ago.

Revenue for the three months to June rose 13% to $93.4 million on the back of higher sales from expanded outlets. “Also, the negative impact when GST was first introduced in Malaysia last year has now worn off,” said Cortina.

Sales margin for the quarter improved by 1.1% to 23.2%, from the corresponding quarter last year.

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