For the full year, earnings rose 36 per cent from S$29 million to S$39.3 million; revenue was 11 per cent higher at S$513.8 million, against S$460.8 million a year ago.
The company’s financial statements show that its full-year revenue was lifted by a bigger increase - 19.4 per cent - in the first half, versus only 4.6 per cent improvement in the second half.Net asset value per share stood at S$1.40 as at end-March, an improvement from about S$1.20 a year ago. Cortina said its balance sheet is healthy, with cash and bank balances at S$114.4 million as at end-March, compared with $81.3 million a year ago. Inventories, at S$143.3 million, were S$19.4 million lower than last year’s, due to more stringent controls over inventories. Short-term bank borrowings fell by S$17.9 million.
The retailer has proposed an interim dividend of four Singapore cents per share to be paid on July 24; the final and special dividends will be recommended at a later date. No interim dividend was declared a year ago. The retailer said that the impact of the pandemic on its business cannot be quantified with certainty at the moment, as it continues to evolve.For daily updates on weekdays and specially selected content for the weekend. Subscribe to