Aspial Corporation's net profit leaps 111% to S$6.3m in Q1 on better revenue

BETTER revenue contributed by its real estate and financial service businesses gave a fillip to results for Aspial Corporation in its first quarter.

Net profit leapt 111.1 per cent to S$6.3 million from the preceding year, the group said in a Singapore Exchange filing on Tuesday evening.

For the three months ended March 31, revenue rose 12 per cent to S$140.9 million from the previous year.

Progress recognition of sales from CityGate and Waterfront@Faber led to an increase in revenue for its real estate business.

Its financial service business saw a rise in revenue on the back of higher interest income from its pawnbroking business and higher sales from the retail and trading of gold, jewellery and branded goods business.

Revenue of its jewellery business, however, continued to be affected by weak consumer sentiments.

Earnings per share jumped to 0.33 Singapore cent from 0.16 Singapore cent in the year-ago period. Net asset value per share crept up to 16.77 Singapore cents as at March 31, from 16.14 Singapore cents three months ago.

Aspial Corporation shares last closed at S$0.29.