THE recent completion of a major Singapore project dampened results for Fragrance Group in its first quarter, the company said on Monday.For the three months ended March 31, Fragrance fell into the red with a net loss of S$3.7 million compared with a net profit of S$8.5 million in the previous year.
Fragrance made a loss per share of 0.05 Singapore cent from earnings per share of 0.13 cent in the previous year. It is working on its sales launch of 31 Jervois Road and 205 Jalan Eunos for the second half of the year. Besides these pre-launch projects, it does not have any ongoing development projects here after City Gate's completion.
"This may cause the group to report negative results for certain quarters in FY2019," Fragrance said, though it added that it expects development works at NV Apartments in Perth to be completed in the second half of 2019 which"may contribute positively to the results of the group in FY2019".
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