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Courts Asia thrives in Indonesia

Electrical, IT and furniture retailer Courts Asia edged its revenue up 1.6 per cent, or S$11.8 million (US$16.3 million), for its latest financial year to $770.4 million.

Contributing 65.6 per cent of the group’s revenue, Singapore had a marginal increase of 0.1 per cent over the previous year, with Malaysia, contributing 32.3 per cent of group revenue, edged up 0.5 per cent (or 11.7 per cent in Malaysian currency) mainly because of corporate sales for digital products and higher income from service charges.

However, contributing 2.1 per cent of group revenue, Indonesia had a 147.5 per cent (or 157.3 per cent in Indonesian currency) growth in revenue, mainly because of new store openings.

Gross profit inched up 1.7 per cent, or $4.2 million.

Courts says it remains optimistic of its longer-term outlook, with plans to prudently expand in Malaysia and open four more stores in Indonesia over this financial year.

For Singapore, the company says it built tradeshow profitability and refurbished two stores (Courts Nex and Courts Tampines Mall). It also launched a next-generation store in Causeway Point last month.

For Malaysia, the company launched a local brand campaign and engaged its first brand ambassador. As well as launching an eStore, it opened four outlets and refurbished seven stores.

For Indonesia, two stores were opened.

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