22 Aug '11, 9pm

Timepiece Feed FJ Benjamin full-year net profit up 55% on luxury sales - TODAYonline: FJ Benjamin full-year ne...

FJ Benjamin Holdings yesterday reported a 55 per cent rise in full-year net profit, with double-digit revenue growth across its fashion and timepiece businesses. Net income rose to S$12.8 million for the year ended June, with revenue up 22 per cent to S$353.9 million. These figures are "definitely a reflection" of the demand for luxury goods, said FJ Benjamin CEO Nash Benjamin. FJ Benjamin, whose portfolio includes Celine and Girard-Perregaux, said revenue rose 17 per cent to S$229.6 million for its fashion business, and 35 per cent to S$123.4 million for timepieces. Mr Benjamin said profit was boosted by a stronger Singapore dollar, which has made imports cheaper. However, it has also made shopping in Singapore more expensive, he said. "If they come in from a country where currencies have depreciated against the Singapore dollar, they have less money to spend. On the othe...

Full article: http://www.todayonline.com/Business/Businessinbrief/EDC11...

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