Amara second-quarter earnings dive 63%

Singapore

SECOND-QUARTER revenue for real estate development and lifestyle group Amara Holdings decreased 3 per cent to S$19.14 million from S$19.69 million in the year-ago period.

This was due to the absence of revenue from development property sold, the group said in a statement.

Net profit for the quarter was down 63 per cent at S$1.71 million, compared to S$4.59 million in Q2 2014. The decline was also attributed to its newly opened hotel in Bangkok, which increased staff costs by 23 per cen…