Revenue for the full year fell by 7.4% y-o-y to $16.7 million while gross profit fell by 4.1% y-o-y to $8.2 million. The group’s gross profit margin (GPM), however, improved to 49.2% from 47.5% last year.
In its financial results statement on Aug 28, Noel Gifts says the operating environment for its gifts business remains “challenging” on the back of declining demand and increasing costs. As such, the group is looking at and implementing various strategies to address these challenges.
In addition, it intends to explore opportunities within the property sector and other sectors to generate income streams.
A first and final dividend of 2.6 cents, as well as a special dividend of 9.4 cents per share was declared for the period. In comparison, the group declared a special dividend of 0.6 cents per share last year.
See also: Keppel Pacific Oak US REIT’s 1QFY2025 distributable income falls by 19.3% y-o-y to US$9.6 mil
Shares in Noel Gifts closed 0.5 cents lower or 1.43% down at 34.5 cents on Aug 28.
