Courts Asia Limited, an investment holding company, engages in the retailing of electrical, information technology, and furniture products in Singapore, Malaysia, and Indonesia. It operates a network of approximately 80 stores in various store formats, including megastores, superstores, departmental stores, and small-format stores. The company’s stores offer white goods, vision products, small appliances, audio products, computers and related accessories, mobiles, photography products, mattresses, homke office products, bedroom furniture, and dining and living room furniture. Courts Asia Limited also offers its products through online stores, as well as provides warranty sales and product re...
50 Tampines North Drive 2
Founded in 1974
Courts Asia Limited Reports Unaudited Group Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
Feb 7 17
Courts Asia Limited reported unaudited group earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported revenue of SGD 187,209,000 compared to SGD 204,747,000 a year ago. Profit before income tax was SGD 6,610,000 compared to SGD 6,529,000 a year ago. Net profit was SGD 5,018,000 or 0.97 cents per basic and diluted share compared to SGD 4,034,000 or 0.77 cents per basic and diluted share a year ago. Net cash generated from operating activities was SGD 6,966,000 compared to net cash used in operating activities of SGD 9,104,000 a year ago. Additions to property, plant and equipment was SGD 2,352,000 compared to SGD 1,776,000 a year ago. Acquisition of intangible assets was SGD 429,000 compared to SGD 63,000 a year ago. The Group's revenue decreased mainly due to lower corporate sales for digital products.
For the nine months, the company reported revenue of SGD 564,087,000 compared to SGD 589,038,000 a year ago. Profit before income tax was SGD 28,107,000 compared to SGD 24,024,000 a year ago. Net profit was SGD 21,133,000 or 4.05 cents per diluted share compared to SGD 16,096,000 or 3.02 cents per basic and diluted share a year ago. Net cash generated from operating activities was SGD 2,545,000 compared to net cash used in operating activities of SGD 3,531,000 a year ago. Additions to property, plant and equipment was SGD 7,111,000 compared to SGD 7,645,000 a year ago. Acquisition of intangible assets was SGD 980,000 compared to SGD 464,000 a year ago. Net asset value per ordinary share was 56.7 cents as on December 31, 2016.
Courts Asia Limited Announces Executive Changes
Dec 2 16
Courts Asia Limited announced Mr. Tan Huat Ben will be appointed Designate Country CEO, Singapore, in January before assuming the Country CEO role in April. Mr. Dolf Posthumus will assume the position as Country CEO, Malaysia, in January 2017. From April 2017, Mr. Stan Kim, current Country CEO of Courts Singapore and Group Chief Information Officer, will be re-designated as Group Chief Innovation Officer, and will focus on accelerating the development of the Group's e-commerce capabilities regionally whilst continuing to oversee functional responsibilities in information technology. With Dolf Posthumus on board in January, Mr. Tim Luce, Acting Country CEO of Courts Malaysia and Group Chief Operating Officer (COO), will fully focus on the regional COO portfolio and work closely with Country CEOs across Courts Asia's markets of operation to drive strategic commercial initiatives and operational excellence. Most recently Tan Huat was Chief Executive Officer of Andios. Mr. Dolf Posthumus, Country CEO of Courts Malaysia.