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Noel Gifts posts 10.2% decrease in FY17 earnings to $1.4 mil

Samantha Chiew
Samantha Chiew8/29/2017 06:54 PM GMT+08  • 2 min read
Noel Gifts posts 10.2% decrease in FY17 earnings to $1.4 mil
SINGAPORE (Aug 29): Noel Gifts, the flowers and gifts company, posted a 10.2% drop in FY17 earnings to $1.38 million from $1.52 million in FY16.
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SINGAPORE (Aug 29): Noel Gifts, the flowers and gifts company, posted a 10.2% drop in FY17 earnings to $1.38 million from $1.52 million in FY16.

Group revenue came in 31.8% lower at $24.2 million in FY17 compared to $35.5 million in FY16 due to the completion of SG50 projects and the decline in demand for gifts amid the uncertain economic conditions.

The lower group revenue was accompanied by a decrease of 22.6% in gross profit to $12.1 million in FY17 from $15.7 million FY16.

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