Accounting gains help Rowsley turn around with FY14 profit of S$49m
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Anita Gabriel
Singapore
IN ITS first full-year report card as an integrated real estate group, Rowsley turned in a net profit of S$49.4 million for the period ended December 2014, compared with a loss of S$226.3 million a year ago.
Much of that was led by a S$39.1 million accounting and one-off gains on its acquisition of RSP Architects Planners & Engineers. Excluding these gains, the adjusted net profit of S$10.3 million still represented a marked improvement.
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