Straits Trading first-quarter earnings up 78% at S$17m

Singapore

THE Straits Trading Company has posted a net profit of S$17.3 million for the first quarter, up 78.1 per cent from the same period a year earlier as earnings across all its business segments rose.

The biggest boost came from the real estate business, in which net profit rose to S$12.4 million for the three months ended March 31, up from S$8.8 million for the same period a year earlier. Property revenue more than doubled to S$9.5 million as additions to the overseas portfolio led to an increase in rental income.