Cortina is riding on a boom in demand for luxury timepieces. In FY2023 ended March 31, the company reported revenue of $826.6 million, up 15% over FY2022. Earnings in the same period came in at just over $69 million, up 4% y-o-y from $66.7 million, thanks to a sustained increase in demand for luxury timepieces.
The Lim family which owns luxury watch retailer Cortina (SGX:C41
) Holdings saw an increase in its stake in the company. Lim Keen Ban Holdings, the investment vehicle used by the family to own Cortina shares, bought 1.6 million units in a married deal at $3.80 each. This brings its direct stake to nearly 54.3 million shares, equivalent to 32.768%, up from 31.802% previously.
The entity is owned by the Lim family including executive chairman Anthony Lim Keen Ban, who founded the company more than half a century ago, and his sons Raymond and Jeremy, group CEO and group COO of the company respectively.
