FJ Benjamin back in black in Q3 after disposal gain

STRUGGLING retailer FJ Benjamin managed to pull itself back into the black in its third quarter after a one-off disposal gain.

Net profit came in at S$33,000, a reversal from a net loss of S$5.1 million in the previous year, the group said in a Singapore Exchange filing on Friday evening. This was after it made a net one-time gain of S$1.5 million from selling its toilet-roll wholesaling business to Lam Soon.

For the three months ended March 31, revenue sank 18.8 per cent to S$49.5 million from the preceding year. The decline in revenue was due partly to absence of contribution from discontinued brands, it said.

Earnings per share came in at 0.01 Singapore cents, a reversal from a loss per share of 0.9 Singapore cents in the previous year.

FJ Benjamin shares were not traded on Friday. They last finished at S$0.056 on May 9.