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April 21, 2015 7:46 PM ET

Specialty Retail

Company Overview of Courts Asia Limited

Company Overview

Courts Asia Limited, an investment holding company, operates as an electrical, information technology, and furniture products retailer in Singapore and Malaysia. It offers household furniture, furnishings, home appliances, and IT products. The company operates a network of 79 stores in various store formats, including megastores, superstores, departmental stores, and small-format stores. It also operates eCourts, an online sales platform; and offers warranty sales and other services. The company was incorporated in 2010 and is based in Singapore. Courts Asia Limited is a subsidiary of Singapore Retail Group Limited.

50 Tampines North Drive 2

Singapore,  528766

Singapore

Founded in 2010

2,349 Employees

Phone:

65 6309 7777

Fax:

65 6784 8076

Key Executives for Courts Asia Limited

Group Chief Executive Officer, Executive Director and Chief Executive Officer of Courts Singapore
Age: 46
Total Annual Compensation: $973.0K
Group Chief Financial & Information Officer and Executive Director
Age: 51
Total Annual Compensation: $536.0K
Compensation as of Fiscal Year 2014.

Courts Asia Limited Key Developments

Courts Asia Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014

Courts Asia Limited reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, the company reported sales of SGD 193,298,000 compared to SGD 203,297,000 a year ago. Profit before income tax was SGD 5,170,000 compared to SGD 8,226,000 a year ago. Net profit was SGD 4,022,000 compared to SGD 6,267,000 a year ago. Net cash generated from operating activities was SGD 8,410,000 compared to net cash used in operating activities of SGD 28,033,000 a year ago. Additions to property, plant and equipment were SGD 4,473,000 compared to SGD 5,039,000 a year ago. Acquisition of intangible assets was SGD 305,000 compared to SGD 219,000 a year ago. Fully diluted earnings per share were 0.73 cent compared to 1.12 cents a year ago. For the nine months period, the company reported sales of SGD 566,026,000 compared to SGD 623,311,000 a year ago. Profit before income tax was SGD 13,487,000 compared to SGD 26,173,000 a year ago. Net profit was SGD 10,807,000 compared to SGD 20,469,000 a year ago. Net cash generated from operating activities was SGD 4,402,000 compared to net cash used in operating activities of SGD 25,513,000 a year ago. Additions to property, plant and equipment were SGD 10,516,000 compared to SGD 14,984,000 a year ago. Acquisition of intangible assets was SGD 782,000 compared to SGD 923,000 a year ago. Fully diluted earnings per share were 1.95 cents compared to 3.66 cents a year ago.

Courts Expands Bukit Timah Store in Singapore

Courts has expanded its Bukit Timah store, adding 33,700 sqft to its existing retail space in Singapore. The retailer's oldest store in Singapore, Courts Bukit Timah, will take over the four storey building beside its current premise, which was recently vacated by Da Vinci Home, bringing its total retail space up to 50,700 sq.ft.

Courts Asia Limited Announces Incorporation of Hardware Lifestyle Pte. Ltd., its Wholly-Owned Subsidiary in Singapore

Courts Asia Limited board of directors announced that the company has incorporated Hardware Lifestyle Pte. Ltd., its wholly-owned subsidiary in Singapore. The addition of this New Subsidiary is not expected to have any material impact on the net tangible assets and consolidated earnings per share of the company for the current financial year.

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