FJ Benjamin Q1 profit plunges 83%

FJ Benjamin Holdings' first-quarter net profit tumbled 83 per cent, hit by a fair value loss on investment securities and foreign exchange losses.

Net profit in the three months ended Sept 30 plunged to $396,000 from $2.3 million in the year-earlier period, the Singapore-based retailer of brands such as Guess and Banana Republic said in a statement yesterday.

Sales rose 2 per cent to $96 million.