SINGAPORE (Nov 8): FJ Benjamin reported first quarter net loss after tax narrowed to $180,000 for 1Q19 from $942,000 for 1Q18.

Group pre-tax profit staged a turnaround of $77,000 compared to a loss of $764,000 in the previous corresponding period. The latest results included a foreign exchange loss of $92,000 against a gain of $820,000 in 1Q18.

Group turnover declined 23% to $31.7 million due mainly to an absence of $9.3 million from discontinued businesses and $1.3 million of foregone sales to the group’s Indonesian associate which started to purchase directly from its principals in April 2017 and a $0.8 million currency translation gain from the appreciation of the Malaysia ringgit against the Singapore dollar.

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