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Higher fair value gains help lift Perennial's quarterly profit

Kalpana Rashiwala

Kalpana Rashiwala

Published Thu, Feb 4, 2016 · 09:50 PM
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Singapore

PERENNIAL Real Estate Holdings has posted net profit of S$41.1 million for the quarter ended Dec 31, 2015, up 93 per cent from a year ago.

This was mainly due to slightly higher fair-value gains on investment properties, improved contribution from operating assets in Singapore and China and the absence of a negative one-off transaction of S$11.4 million from a year ago.

Revenue rose 90 per cent to S$28.4 million. This was because the latest quarter has a full three-month revenue contribution from the real-estate …

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