Rowsley swings into the black for Q3 with net profit of S$5.39m

Singapore

REAL estate company Rowsley swung into the black with a net profit of S$5.39 million for the third quarter ended Sept 30 versus a loss of S$4.21 million in the same quarter last year, lifted by new contributions from the group's UK hospitality business and its engineering consultancy, Squire Mech.

Revenue rose 40 per cent to S$24.6 million, bolstered by S$3.8 million in contributions from the UK hospitality group, S$2.5 million from Squire Mech which was acquired in August and an increase in RSP's revenue of S$0.8 million. RSP is the group's architectural, engineering and master planning consultancy.