First Sponsor Group announced that its 1H20 earnings have increased by 49.4% to $58.1 million from $38.9 million in 1H19, mainly due to lower expenses and foreign exchange gains.

Revenue for the first half ended June was 16.5% lower at $104.1 million from $124.8 million a year ago, mainly due to lower revenue contribution from sale of properties, rental income from investment properties and revenue from hotel operations, but partially offset by increase in revenue from property financing.

Revenue from sale of properties decreased by 56.0% y-o-y to $22.4 million 1H20, due mainly to the lack of handover of residential and commercial units in the Millennium Waterfront project in 1H20 compared to 1H19. The decrease was partially offset by a higher number of car park lots sold in the current period.

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