Fragrance FY net profit up more than 5 times

Singapore

PROPERTY developer Fragrance Group's net profit for its fiscal 2018 ended Dec 31 more than quintupled to S$266.0 million, from S$48.5 million in the previous year.

For the 12 months ended Dec 31, revenue jumped 64.7 per cent to S$326.2 million from the previous year, from its sale of 555 Collins Street in Melbourne. Fragrance had completed the sale for A$140m (S$134.7 million) in 2018.