Company Briefs : Cortina Holdings

Cortina Holdings

Net profit at luxury watch retailer Cortina Holdings rose to $3.8 million in the fourth quarter, compared with $1.4 million a year earlier.

Revenue grew 13 per cent to $106.1 million for the three months to March 31 on the back of expansion in the group's retail network, notably in Singapore, Taiwan and Thailand.

Full-year net profit was up 41 per cent to $11.8 million, while revenue increased 6 per cent to $390.8 million.

The firm said higher revenue and a good sales mix gave its full-year results a boost.

Yearly earnings per share was 7.1 cents, compared with 5.1 cents previously, while net asset value per share was 96.3 cents as at March 31, from 92.8 cents as at March 31 last year.

A final dividend of two cents a share, plus a special dividend of one cent a share, were proposed.


Roxy-Pacific Holdings

Real estate firm Roxy-Pacific said yesterday that it is not selling the freehold property at 59 Goulburn Street in Sydney to I-Prosperity Group and Toga D&C.

It was to be sold to them for A$158 million (S$162.8 million).

It has instead entered an agreement with Fortius Funds Management and its nominee, who plan to buy it at the same price.


Bukit Sembawang Estates

Developer Bukit Sembawang Estates reported that fourth-quarter net profit slumped 67.2 per cent to $2.3 million.

Revenue grew 24.3 per cent to $15.2 million for the three months to March 31. It recorded higher sales and higher profit recognition on projects such as Skyline Residences in the quarter.

Full-year net profit dropped 21.2 per cent to $72.5 million, while turnover plunged 49.2 per cent to $143.4 million.

Quarterly earnings per share was 0.87 cent, compared with 2.67 cents previously, while net asset value per share was $4.93 as at March 31, from $4.98 a year earlier.

A version of this article appeared in the print edition of The Straits Times on May 27, 2017, with the headline 'CompanyBriefs'. Print Edition | Subscribe