First Sponsor Q3 profit falls 21.4%

Singapore

FIRST Sponsor Group posted a 21.4 per cent drop in net profit during its fiscal third quarter as it could not match a sizeable site sale from a year ago. The China-focused property developer and financing services provider said net profit fell to S$14.9 million, or 2.56 Singapore cents per share, for the three months to Sept 30.

Nine-month net earnings stood at S$2.4 million, or 0.52 Singapore cent per share, down 93.7 per cent year on year.