Perennial Q2 profit halves to S$8.6m with Capitol fully consolidated

Singapore

PERENNIAL Real Estate Holdings' second-quarter net profit halved to S$8.6 million from S$17.1 million a year ago as it fully consolidated debt and costs of Capitol Singapore and recognised lower fair value gains in China.

On a per-share basis, profit for the three months ended June 30 fell to 0.52 Singapore cent from 1.03 Singapore cents a year earlier, the property developer announced on Friday before the market opened. Perennial stock closed down half a Singapore cent or 0.6 per cent at 80.5 Singapore cents on Friday. No dividends were declared.