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Amara posts 36% fall in FY17 earnings to $24 mil on higher selling costs and tax expenses

PC Lee
PC Lee2/22/2018 09:59 PM GMT+08  • 2 min read
Amara posts 36% fall in FY17 earnings to $24 mil on higher selling costs and tax expenses
SINGAPORE (Feb 22): Hotel and property group Amara Holdings reported a 36% fall in FY17 earnings to $23.9 million from $37.1 million a year ago.
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SINGAPORE (Feb 22): Hotel and property group Amara Holdings reported a 36% fall in FY17 earnings to $23.9 million from $37.1 million a year ago.

Group revenue for FY17 increased by 10% to $89.8 million from $81.3 million in FY16. This was mainly due to higher revenue in hotel investment and management segment and property investment and development segment.

Net fair value gains of investment properties rose to $20.5 million in FY17 from $1.8 million in FY16.

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