Aspial's net profit plunges 75% to $1.9m

On back of massive forex losses.

Jewellery dealer Aspial reported significantly lower profits in Q3 due to higher expenses and a forex translation loss.

The company was hit by $2.4m of losses from forex translations, while expenses surged 42% to $25.4m.

In the first nine months of the year, Aspial's net profit was 88% lower at just $4.4m. This was due to the absence of fair value gains which were recognised in the same period last year.

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