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First Sponsor Group's Q4 profit jumps 65.7% to S$31.91m

Wednesday, February 3, 2016 - 19:45

CHINESE property developer First Sponsor Group's fourth quarter net profit surged 65.7 per cent year on year to S$31.91 million, for the three months ended Dec 31, 2015.

Revenue was up 18.7 per cent to S$100.3 million, mainly due to an increase in revenue from the sale of properties; an increase in rental income from investment properties; and an increase in revenue from property financing.

Earnings per share for the quarter stood at 5.41 Singapore cents - an increase from the 3.26 Singapore cents in the corresponding period a year before.

A final tax-exempt (one-tier) dividend of one Singapore cent per share was declared, bringing the total dividends for FY2015 to 1.7 Singapore cents per share.

The group said that it remains eager to expand its footprint in the Netherlands and other regions. "We will stay alert to new business opportunities while remaining cautious of the increasing economic uncertainty of the global economy," said First Sponsor Group on Wednesday in a Singapore Exchange (SGX) announcement.

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