Fragrance Group sees earnings plunge 89% in 3Q to $3.1 mil

SINGAPORE (Nov 10): Fragrance Group posted earnings of $3.1 million for 3QFY16, a 88.8% decline from the earnings of $27.8 million in 3QFY15.

Revenue fell 48.5% to $33 million for the quarter to Sept, on the back of a 52.3% decrease in property development revenue to $28.3 million and a 1.1% decrease in property investment revenue to $4.7 million.

Gross profit margins rose by 8.8 percentage points to 39.6%.

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