Home Capital Results

First Sponsor reports 29% rise in 2Q18 earnings to $12.1 mil despite lower revenue recognition

PC Lee
PC Lee7/27/2018 12:17 PM GMT+08  • 2 min read
First Sponsor reports 29% rise in 2Q18 earnings to $12.1 mil despite lower revenue recognition
SINGAPORE (July 27): First Sponsor Group, the mixed property developer in the Netherlands and China, reported 2Q18 earnings of $12.1 million. This brings 1H18 earnings to $29.2 million, up 23.7% from last year.
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 (July 27): First Sponsor Group, the mixed property developer in the Netherlands and China, reported 2Q18 earnings of $12.1 million. This brings 1H18 earnings to $29.2 million, up 23.7% from last year.

Revenue for 2Q18 fell 21.2% to $44.1 million due mainly to a $38.6 million decline in revenue from sale of properties led by recognition of revenue from fewer units in the Millennium Waterfront project.

The decrease was however partially offset by the increase in revenue from property financing, hotel operations and rental income from investment properties of $18.1 million, $8.5 million and $0.1 million respectively.

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