The retailer's balance sheet"remains healthy" with consolidated net assets of S$607.9 million, with cash and cash equivalents of S$183.1 million, The Hour Glass said in the filing.
As at March 31, group inventory was S$285.5 million; cash and cash equivalents stood at S$183.1 million. Net asset value per share stood at S$0.86, marginally higher than S$0.79 a year ago. Michael Tay, group managing director of The Hour Glass, said:"The group’s overall performance in FY2020 was a gratifying outcome, borne out of the internal transformation of our technology backbone and front-end digital customer experience management platforms the last three years. We continue to prepare for seen and unforeseen changes taking place in the industry and the global economy. This ability to pivot and adapt to on-going disruptions has served the group well.
The retailer also said that its operations and financial results will continue to be adversely impacted by business disruptions and dampened consumer sentiment amid the virus outbreak. Given the evolving circumstances, the impact is difficult to quantify at this juncture.BT is now on Telegram!