November 13, 2008, 5.59 pm (Singapore time)
Cortina's H109 net profit jumps 80%
By JAMIE LEE
Luxury watch retailer Cortina Holdings on Thursday posted a 79.9 per cent jump in half-year net profit to S$5.29 million on higher sales despite the economic downturn.
Revenue for the six months ended September rose 10.3 per cent to S$114 million from S$104 million a year earlier.
'The coming period will see greater challenges in view of the global economy crisis,' the company said in its financial statement. 'As part of its ongoing growth plan, the group has already lined up further expansionary moves for the rest of the year and in the year to follow,' it added.
Cortina said a multi-brand store in Penang Guerney Plaza will open in December, while the early part of next year will see the addition of a Patek Phillipe boutique and a multi-brand store at Ion Orchard.
No dividend was declared for the period.