Why Courts Asia should not panic yet despite weak quarter

Revenue rose by a tad 3%.

According to a report by HSBC, Courts recorded a revenue increase of 10%, to SGD794m, for FY Mar 2013 and 3% y-o-y in the fourth quarter, to SGD189m.

Growth was driven by Singapore, with a 10% revenue increase for the full year while Malaysia realized 6% annual growth.

Here's more from the report:

SSSG remains strong in Singapore at 8.2% despite a relatively weak retail environment while, in Malaysia, SSSG improved to 6.3% in FY Mar 2013 versus 1.4% in FY Mar 2012.

We believe Courts’ underlying results remain strong despite the weaker-than-anticipated quarter as evidenced by its improving sales per square foot.

SSSG in the fourth quarter was also solid in Singapore at 6% and Malaysia at 6.4%, all in local currency term.

Courts highlighted that its 4Q FY Mar 2012 results benefited from a positive service charge income transfer of SGD7.5m which boosted its top and bottom line.

In 4Q FY Mar 2013, the positive income transfer was significantly lower at SGD0.2m as a result of lower credit sales as a proportion of total sales.

This resulted in an apparent weak revenue growth for the quarter.

Also Read

Changi Airports and Hainan Meilan form JV for non-aero services

F&B brands remain key drivers of retail leasing in Q3

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit