CORTINA HOLDINGS Reports Q2 FY2024 Earnings Results for November 14, 2023

🌥️Earnings Overview

On 30 September 2023, CORTINA HOLDINGS ($SGX:C41) reported their earnings results for the second quarter of their financial year ending 14 November 2023. Their total revenue for the quarter was SGD 391.3 million, a 3.8% drop compared to the same quarter the previous year. Net income for the period also decreased by 18.5%, to SGD 30.9 million.

Share Price

CORTINA HOLDINGS reported its financial results for the second quarter of the fiscal year 2024 on Tuesday, November 14th. The stock opened at SG$3.5, and ended the day at SG$3.5 without any significant fluctuation. This was attributed to improved efficiencies in production and better cost control. This indicates that the company is well positioned to meet its financial obligations and should continue to be a reliable investment option in the near future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Cortina Holdings. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Cortina Holdings. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Cortina Holdings. More…

Key Ratios Snapshot

Some of the financial key ratios for Cortina Holdings are shown below. More…

Analysis

As GoodWhale analysts, we conducted a fundamental analysis of CORTINA HOLDINGS and determined that the company is currently performing strongly in terms of assets, dividends, growth, and profitability. We have thus classified CORTINA HOLDINGS as a ‘rhino’, a company with moderate revenue or earnings growth. Given the high health score of 10/10, with regard to its cashflows and debt, CORTINA HOLDINGS is likely to be a safe investment for investors looking for a stable and reliable return. Moreover, given the moderate revenue or earnings growth the company is experiencing, it may be an attractive option for investors who are looking for potential mid-term returns. More…

Peers

Competition between Cortina Holdings Ltd and its competitors — Sovereign Diamonds Ltd, TOM TAILOR Holding SE, and F J Benjamin Holdings Ltd — is fierce as they vie for market share in the retail industry. Each company has its own distinct business strategies and competitive advantages that are constantly evolving as the market changes. This intense competition has resulted in a dynamic and highly competitive retail environment.

– Sovereign Diamonds Ltd ($BSE:523826)

Sovereign Diamonds Ltd is a global leader in producing high-quality diamonds. It has a market cap of 138.97M as of 2023 and a Return on Equity (ROE) of 11.49%. The company’s market capitalization reflects the market’s evaluation of its financial health and potential to generate future profits. The company’s ROE measures the efficiency with which it is able to generate profits from its equity investments. Sovereign Diamonds Ltd sources and processes diamonds from around the world and sells them in polished form at competitive prices. The company also offers a wide range of value-added services such as custom designs, laser inscriptions, and lifetime warranties.

– TOM TAILOR Holding SE ($LTS:0MMJ)

TOM TAILOR Holding SE is a leading international fashion and lifestyle company headquartered in Hamburg, Germany. The company designs, produces and sells fashion and lifestyle products for men, women and children through its various brands. As of 2023, TOM TAILOR Holding SE had a market cap of 5M. The company’s Return on Equity (ROE) for the same period was -507.22%, indicating a significant decrease in shareholders’ investments versus prior years. This decrease was likely due to the company’s high operating expenses and the challenging economic environment in Germany. Despite this, the company remains a leader in the fashion and lifestyle industry and has successfully maintained its presence in the market.

– F J Benjamin Holdings Ltd ($SGX:F10)

J Benjamin Holdings Ltd is a diversified holding company operating in a number of industries including real estate, hospitality, and private equity. The company has a market capitalization of 20.18M, indicating a strong financial position in the market. Its Return on Equity (ROE) of 9.09% demonstrates that the company is generating good returns for shareholders and is able to maintain a healthy balance sheet. The company has been able to achieve such a high level of success by leveraging its investment portfolio to create stable income streams and create value for its shareholders.

Summary

CORTINA HOLDINGS’ Q2 FY2024 earnings report, released on September 30 2023, showed a 3.8% decrease in total revenue compared to the same period in the previous year. Net income was reported at SGD 30.9 million, a decrease of 18.5% from the same period in the prior year. From an investing perspective, this news is not overly positive as there appears to be a lack of growth and profitability for CORTINA HOLDINGS. Investors should monitor the situation closely to see if the company can return to growth and profitability in coming quarters, as any significant decrease could lead to further losses.