FJ Benjamin reports net loss of S$6.98 million in 3QFY15
RETAIL and lifestyle group FJ Benjamin Holdings saw its net loss for the third quarter ended March 31, 2015 widen from S$4.87 million a year ago to S$6.98 million as group turnover fell 23 per cent to S$69.71 million.
Loss per share was 1.23 Singapore cents in 3QFY15, versus 0.86 cent a year ago.
Chief executive Nash Benjamin said: "It has been another difficult quarter in Singapore and North Asia as a result of weaker consumer sentiment and the economic slowdown in China, which has affected tourism in South-east Asia."
Sales in Malaysia were flat, while sales in Indonesia were down slightly by one per cent.
He added: "Management has taken steps taken to right-size our operations by closing unprofitable stores, and this will be completed by December. In light of this, the group expects to record a loss for the current financial year."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Concord to buy Hipgnosis in US$1.4 billion deal
Nokia sees stronger H2 after Q1 comparable profit grows less than expected
TSMC posts first profit growth in a year after global AI boom
Latest Singapore one-year T-bill offers cut-off yield of 3.58%
Huawei starts sales of new Pura 70 smartphone amid scrutiny on chips
Binance converts its billion-dollar ‘Safu’ emergency fund into USDC