Fashion group F J Benjamin posts lower Q2 net profit
Fashion and lifestyle group F J Benjamin Holdings posted a lower net profit for the second quarter, due to a softer retail market in South-east Asia and a slump in demand for luxury timepieces in North Asia.
Net profit fell 53 per cent to $531,000 in the three months to Dec 31, compared with the same period last year.
Excluding a gain of $920,000 from the sale of a Hong Kong leasehold property last year, earnings for the second quarter would be more than double compared with the same period last year.
Group turnover rose 8 per cent to $104.6 million.