SINGAPORE (May 9): Aspial Corp, the property and and pawnbroking group, saw earnings for the 1Q ended March rise 20% to $7.6 million from $6.3 million a year ago on a surge in revenue despite netting a foreign exchange (forex) loss over the quarter.
Group revenue for the quarter grew 51% to $212.4 million from $140.9 million previously, mainly due to significantly improved performance from its real estate business on the progressive recognition of sales from CityGate, as well as revenue from the settlement and handover of completed residential units for Avant project in Melbourne, Australia.
The financial services business segment also delivered significant revenue growth driven by higher interest income from its pawnbroking and secured lending businesses and higher sales from the retail and trading of jewellery and branded merchandise business.
