, Singapore

Noel Gifts' net profit almost doubles thanks to Jubilee baby gift pack

Net profit jumped 84.6% to $2.9m.

Noel Gifts bagged a jackpot from the SG50 Baby Jubilee Gift project.

The group's net profit almost doubled to $2.9m in FY15, driven by revenue from the Jubilee baby gift packs.

The group also booked a one-off gain of $2.4m from the disposal of shares in a subsidiary.

Noel Gifts expects to remain profitable in FY16.

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