Meanwhile, a change in New Zealand’s tax regulations resulted in the group incurring a one-off deferred tax charge of $4.7 million, resulting in the net profit of $157.6 million.
Luxury watch retailer The Hour Glass (SGX:AGS
) has announced a lower net profit of $157.6 million for the FY2024 ended March 31, 2024, a 10% decline from the same period a year ago.
The group’s profit before tax fell 7% y-o-y to $204.6 million for the full year due to higher operating costs from marketing expenses and a strong Singapore dollar, which dampened earnings, the group said.
