Property development drives up profit at Fragrance Group
Published on Apr 30, 2014 9:49 PM
SINGAPORE - Fragrance Group reported its net profit rose by 37.6 per cent to $24.3 million.
Turnover for the first quarter ended March 31 was up 12.9 per cent at $125.3 million.
Property sector contributed to this increase while the hotel sector's revenue has dropped. Property development sector contributed $111.5 million in revenue, up 15.6 per cent.
This was mainly due to the revenue contribution from ongoing development projects: Urban Vista, Kensington Square, Parc Rosewood, Suites @ Bukit Timah, LeRegal, Icon @ Pasir Panjang and Novena Regency.
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