Home Capital Results

First Sponsor posts 20% rise in 1Q earnings to $17.1 mil on lower costs

Samantha Chiew
Samantha Chiew4/25/2018 07:19 AM GMT+08  • 2 min read
First Sponsor posts 20% rise in 1Q earnings to $17.1 mil on lower costs
SINGAPORE (Apr 25): First Sponsor Group, the mixed property developer in the Netherlands and China, announced 1Q18 earnings increased by 20.3% to $17.1 million, compared to $14.2 million in 1Q17.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Apr 25): First Sponsor Group, the mixed property developer in the Netherlands and China, announced 1Q18 earnings increased by 20.3% to $17.1 million, compared to $14.2 million in 1Q17.

During the quarter ended Mar 31, the group recorded a 42.6% drop in revenue to $47.8 million from $83.3 million in the previous year, due mainly to the decrease in revenue from sale of properties.

The decrease in revenue from sale of properties in 1Q18 was due mainly to the recognition of revenue from 62 residential units in the Millennium Waterfront project, compared to 600 residential units in 1Q17.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now