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First Sponsor's Q3 profit up 13.1% at S$19.3m

Singapore

PROPERTY developer First Sponsor achieved a 13.1 per cent growth in net profit to S$19.3 million for the third quarter ended Sept 30 on the back of higher development income.

Higher other income (which was negative a year ago) and finance income, as well as lower tax expenses also helped to improve the bottom line.

Revenue during the quarter grew 11.5 per cent to S$80.4 million due mainly to higher revenue from the sale of properties, which was partially offset by a decrease in revenue from...

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