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."