Perennial Real Estate Q3 earnings plummet despite revenue surge

PROPERTY and healthcare group Perennial Real Estate Holdings' third-quarter net profit nosedived 91.1 per cent to S$425,000 from the preceding year, the group said in a Singapore Exchange filing on Tuesday evening.

For the three months ended Sept 30, revenue leapt 53.2 per cent to S$35.1 million from the year-ago period.

Q3 earnings per share sank to 0.03 Singapore cent from 0.29 Singapore cent in the previous year. Net asset value per share dipped to S$1.57 as at Sept 30, from S$1.688 as at nine months ago.

Perennial Real Estate shares closed S$0.015 or 1.8 per cent lower at S$0.825 on Tuesday.