The Hour Glass's profit after tax drops 10% to $157.6m in FY24

New Zealand’s tax changes impacted profit.

Specialist watch retailer The Hour Glass saw its profit after tax (PAT) decline 10% YoY to $157.6m in FY24.

In a bourse filing, the retailer said the one-off deferred tax charge of $4.7m incurred due to a change in New Zealand’s tax regulations impacted its profit after tax.

Lower PAT resulted in a 9% YoY decline in profit attributable to company owners, which amounted to $156.5m.

With lower profits, the company declared earnings per share (EPS) of $0.2387, 8% lower than the $0.2591 record in FY23.

Follow the link for more news on

Financial Statements

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia