Fragrance Group sinks into the red with 1Q loss of $3.7 mil on lower revenue, higher finance costs

SINGAPORE (May 13): Fragrance Group recorded a loss of $3.7 million in 1Q19, compared to earnings of $8.5 million in 1Q18.

This came on the back of a 78% fall in revenue to $14.5 million from $65.7 million a year ago, mainly due to lower revenue contribution from the group’s property development and commercial investment segments.

The group’s property development segment saw revenue drop 96.3% y-o-y to $2.0 million while revenue from the commercial investment segment declined 5.7% y-o-y to $5.5 million.

Read more on The Edge Singapore

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