Amara Holdings FY15 net profit falls 59%

REAL estate developer Amara Holdings reported a 59 per cent plunge in net profit to S$14.33 million for FY15.

During the year, profits were affected by a drop in the fair value gain in investment properties of S$13.4 million as well as operating expenses from a newly opened hotel in Bangkok.

Revenue climbed nine per cent to S$82.43 million due to higher revenue from hotel investment and management segment and higher income from additional units of development property sold. In addition, rental income from its property investment and development segment was higher.

Earnings per share came to 2.49 Singapore cents, down from 6.12 cents a year ago.

Amara is recommending a final dividend of one cent per share.