Fragrance Group's Q2 profit rises 3.1%

FRAGRANCE Group reported a 3.1 per cent increase in net profit to S$3.8 million for the second quarter ended June 30.

Turnover rose 14 per cent to S$35 million from the previous year, mainly thanks to its property development and property investment segments.

Earnings per share rose to 0.06 Singapore cent from 0.05 Singapore cent previously.

For the six months ended June 30, Fragrance recorded a turnover of S$78.62 million, which represents a 47.3 per cent increase year on year. This was mainly due to substantial revenue contribution from the City Gate project which commenced construction in the second quarter of 2016, it said.

Net profit for the first half rose 2.3 per cent to S$9.2 million from the previous year.

Shares in Fragrance closed 0.1 cent higher at S$0.168 on Tuesday.

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