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Ossia posts 7.8% drop in full-year net profit to S$3.92m

OSSIA International reported net profit attributable to owners of S$3.92 million for the year ended March 31, down 7.8 per cent from the previous year's figure of S$4.16 million, in a results release on Monday night.

This came as revenue fell 18.4 per cent to S$23.95 million from the previous year's restated figure of S$29.37 million. Ossia said the decline in sales was due mainly to the disposal of business and end of operations in Malaysia.

Earnings per share for the year was 1.55 Singapore cents, compared with 1.64 cents the year before.

Ossia has proposed a final dividend of 0.17 Singapore cent per share.

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"The retail climate conditions in the region that we operate remain challenging. The group will continue to focus on its core business, tightening operations by closing non-performing outlets and brands," said Ossia, which has been on the Singapore Exchange watchlist since 2017.

Ossia shares closed unchanged at 9.1 Singapore cents on Monday.