Lower revenue, absence of fair value gain hit Fragrance full-year profit

Singapore

LOWER property development revenue, plus an absence of substantial fair value gain on investment properties, weighed down results for Fragrance Group for its full financial year.

Net profit plummeted 89 per cent to S$7.5 million from the previous year, the group said in a Singapore Exchange filing on Wednesday evening.

As a result, earnings per share sank to 0.11 Singapore cent from 1.02 Singapore cents in the year-ago period.

For the 12 months ended Dec 31, revenue plunged 58.4 per cent to S$118.7 million from the same period a year ago. The decline in revenue was due mainl…