First Sponsor Q4 profit up 36.5% to S$58m

Singapore

FIRST Sponsor Group's fourth-quarter net profit rose 36.5 per cent to S$58.2 million from S$42.7 million a year ago, the mixed property developer announced on Thursday before the market opened.

The group also said separately that it is in talks to buy a German hospitality asset through a share deal expected to be in the region of 50 million euros (S$76.7 million). Discussions are on-going and no definitive terms or formal legal documentation have been agreed upon or entered into.