Electrical, IT and furniture retailer Courts Asia has delivered a strong performance for the three months to December.
Net profit rose 21.6 per cent to S$6.2 million, achieved on the back of year-on-year sales growth of 9.4 per cent. Gross profit increased six per cent while gross profit margin remained at a healthy level of 29.6 per cent, despite a marginal dip in the last quarter.
“In Singapore, the new Bukit Timah, Clementi and Star Vista stores boosted our topline. Whilst sales dampened in our flagship Megastore during the renovation between October to November, we saw a positive momentum after the December relaunch,” said Courts Asia’s CEO Terence Donald O’Connor.
“In Malaysia, sales were driven by tablets and smartphones, notably Samsung and Apple brands,” the CEO added.
The company said it will boost its presence in the western part of Singapore, opening stores at Westgate Mall, due to open by the year-end and at Jems shopping mall.
“In Malaysia, we successfully launched the Jerteh, Terengganu store in January, taking our store network to 59. Before the end of March, we will add one more store in Sg Petani, Alor Setar, with further store openings in Teluk Intan, Perak and Pontian, Johor in the first quarter of our financial year beginning March,” said O’Connor.