Mainboard-listed fashion retailer, FJ Benjamin, has posted a full-year net loss of 2.7 million dollars, reversing a 14.8 million net profit in the previous year.

The loss was partly due to an exceptional charge of 3.1 million dollars for impairment of properties and foreseeable losses on its Australia operations.

The company also recorded non-cash foreign exchange losses of 3.7 million dollars partly due to the revaluation of intercompany loans.

Revenue for the financial year ended June fell 12 percent to 299.9 million dollars, from a year ago.

FJ Benjamin says its fashion business sales dropped one tenth while sales for timepieces fell 17 percent during the year on weaker consumer spending in Southeast Asia and Taiwan.

CEO Nash Benjamin says amid the challenging economic conditions, the firm stepped up its cost discipline, reduced expenses and tightened its management of inventory and accounts receivable.

With signs of recovery in some economies in the region, it's seeing improving consumer sentiment.

Looking ahead, the retailer says it'll continue to invest in its brands and grow its market share