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First Sponsor reports 24.7% higher 2Q earnings of $15.1 mil on higher sales

PC Lee
PC Lee7/25/2019 07:33 AM GMT+08  • 2 min read
First Sponsor reports 24.7% higher 2Q earnings of $15.1 mil on higher sales
SINGAPORE (July 25): First Sponsor Group, the property developer in the Netherlands and China, reported 2Q19 earnings of $15.1 million, 24.7% higher than the $12.1 million reported in 2Q18.
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SINGAPORE (July 25): First Sponsor Group, the property developer in the Netherlands and China, reported 2Q19 earnings of $15.1 million, 24.7% higher than the $12.1 million reported in 2Q18.

Revenue came in 80.1% higher at $79.4 million due mainly to a $34.2 million and $4.1 million increase in revenue from sale of properties and hotel operations respectively.

The increase in revenue from sale of properties in 2Q19 was due mainly to the recognition of revenue from 99 more commercial units in the Millennium Waterfront project in 2Q19 compared to just one unit in 2Q18.

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