Thakral Corporation’s net profit declined 4.9% y-o-y to $3.37 mil for 1QFY2025 from forex losses and higher income tax

The group’s profitability was impacted due to losses in foreign exchange and higher income tax.

Revenue for 1QFY2025 came in 26.6% y-o-y higher at $76 million.

The group says that revenue for its lifestyle business grew to $74 million for 1QFY2025, up 27.7% y-o-y. This is due to demand for its portfolio of beauty and fragrance brands which remained strong across China, Hong Kong and Macau.

Share of profit from associates rose 80.7% y-o-y to $3.2 million led by higher contributions from the group’s investments segment, particularly GemLife and its commercial properties in Japan.

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The group’s average occupancy across its commercial properties in Japan came in at over 96% as at end March.

For the quarter, gross profit rose 16.1% y-o-y to $12.9 million but gross margin declined to 17% due to volume sales. Operating profit declined mainly due to Nespresso’s operational and staffing costs.

The group’s cash and bank balances declined 14% q-o-q to $10.9 million due to the partial settlement of accrued expenses and increase in other receivables.