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Singapore’s Big Loser This Week: F J Benjamin Holdings Ltd

Credit: hobvias sudoneighm

From last Friday to Thursday, the Singapore market, as represented by the Straits Times Index (SGX: ^STI), rose 0.5%. However, F J Benjamin Holdings Ltd (SGX: F10) fell by 7.4% to S$0.15, thus making it one of the big losers in the local share market this week.

F J Benjamin is involved in brand building and management. It also helps develop retail & distribution networks for international luxury and lifestyle brands across Asia. Some of the brands under its umbrella include GuessGivenchy, and Goyard.

On 5 January, the company said that the two sons of Frank Benjamin, Executive Chairman of the company, have been promoted.

Younger son, Ben Judah Benjamin, 38, has been promoted to Director of Corporate Strategy/ Business Development. He held the position of General Manager, Luxury Fashions previously. Older son, Samuel Raymond Benjamin, who is 44, has been promoted to Director of Luxury Fashions and Timepieces after being the Group Director of Timepieces.

On the same day, the firm also announced its financial results for the fiscal second quarter ended 31 December 2014.

Revenue declined 17% year-on-year to $87.1 million due to lesser shoppers patronizing its stores in October and November in both Singapore and Malaysia. However, the company’s bottom-line rose from S$586,000 a year ago to S$1.2 million in the reporting quarter, mainly on the back of a 100% increase in other income from gains related to the partial sale of mandatory convertible bonds issued by its Indonesian associated company.

Although an increase in profit is always nice to have, investors might not want to be too excited about FJ Benjamin’s latest profit jump as it wasn’t due to major improvements in the company’s core business.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.