Fragrance's Q3 profit up 14.3%, revenue falls

Singapore

FRAGRANCE Group's net profit for the third quarter ended Sept 30, 2015, rose 14.3 per cent to S$27.8 million even as its revenue dropped 52.0 per cent, from S$133.3 million to S$64.0 million.

The drop in revenue was largely due to a fall in property development revenue. The sector contributed S$59.3 million (92.6 per cent) to the consolidated turnover, which was a drop of 53.9 per cent compared with the same quarter in 2014. The main revenue contributor from this sector was the progressive recognition of income from development projects, namely Kensington Square, Urban Vista, and Icon@Pasir Panjang.