Far East Orchard expects to post higher profit after tax for FY2023
Add BT as a preferred sourceSamuel Oh
FAR East Orchard has announced in a profit guidance that it expects to report a higher profit after tax for its financial year ending Dec 31, 2023, compared with the audited profit after tax for FY2022, it said in a bourse filing on Friday (Jan 26).
The expected higher profit after tax is mainly attributed to fair value gains on investment properties, it added.
The company said that it is still in the process of finalising the valuations on its portfolio of properties and will announce its unaudited FY2023 results on or about Feb 28.
Shares of Far East Orchard ended Friday at S$1.00, down 1 per cent or S$0.01.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Singapore Kitchen CEO, senior manager charged with alleged fraud, falsifying accounts; both to stay in jobs for now
Profit with purpose: Kim Choo Kueh Chang’s pivot from public listing to protecting heritage
HSBC, AIA, Prudential shares slide after report of Hong Kong bank account curbs
How the ultra-rich buy property
