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Far East Orchard 1Q earnings fall 67% to $5.6 mil

Jude Chan
Jude Chan4/25/2017 07:10 PM GMT+08  • 2 min read
Far East Orchard 1Q earnings fall 67% to $5.6 mil
SINGAPORE (April 25): Far East Orchard has posted earnings of $5.6 million for the first quarter ended March, falling 66.8% from $16.9 million a year ago.
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SINGAPORE (April 25): Far East Orchard has posted earnings of $5.6 million for the first quarter ended March, falling 66.8% from $16.9 million a year ago.

This was mainly due to lower profits from the hospitality joint ventures and the hospitality assets in Perth, Australia, as well as higher interest expense from bank borrowings.

Revenue in 1Q17 fell 22.9% to $39.4 million, from $51.1 million in the corresponding quarter last year.

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