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First Sponsor's Q3 profit jumps 30.3% on strong pre-sales for China projects, hotel addition

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Ng Ren Jye

Published Fri, Oct 25, 2019 · 09:50 PM

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Singapore

MAINBOARD-LISTED First Sponsor Group posted a 30.3 per cent surge in net profit to S$33.3 million for the third quarter ended Sept 30, from S$25.6 million in the year-ago period, it said in a bourse filing on Friday.

The property developer and financing group said it recorded strong pre-sales for several Chinese projects while its Dutch portfolio was boosted by the acquisition of the 193-room Hampton by Hilton hotel in Utrecht in the Netherlands.

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