F J Benjamin Q2 FY15 profit rises to S$1.24m

RETAILER F J Benjamin posted a net profit of S$1.24 million for the second quarter ended Dec 31, 2014, up from S$586,000 in the corresponding quarter a year earlier.

This was despite revenue slipping 17 per cent to S$87.09 million, as the retail industry battled headwinds.

Meanwhile, earnings per share grew to 0.22 Singapore cent, up from 0.10 cent.

The bottom line was boosted in part by higher share of results of associates/joint ventures, which came in at S$853,000 versus S$151,000 previously.

FJ Benjamin said: "The increased volatility in the global economy, in particular softer growth in China, will continue to weigh down on Asia's economic outlook and affect consumer sentiment. In view of this, the group continues to focus on improving productivity through store rationalisation, managing inventory levels and capitalising on cost efficiencies."