Courts Asia posts 56% rise in 1Q earnings to $6 mil

SINGAPORE (Aug 11): Courts Asia, the retailer of furniture and electrical appliances, posted earnings of $9.4 million for 1Q17, a 55.8% increase from the earnings of $6 million in 1Q16.

For the quarter to June, revenue fell 0.9% to $196.3 million, on the back of a 0.3% drop in Singapore sales to $505 million and a 5.8% decline in Malaysia sales in Singapore dollar terms to $248 million. In ringgit terms, Malaysia sales increased by 1.7%.

In Indonesia, revenue rose 66.1% to $16 million, from newly opened stores.

---

Related Stories

• Sri Trang Gloves posts net loss for 3QFY2024 on rapid appreciation of baht
• Multi-Chem's 3QFY2024 earnings down 23% y-oy to $7.1 mil
• Old Chang Kee posts earnings of $6.2 mil in 1HFY2025, up 42.3% y-o-y on higher sales and lower costs

---