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Perennial's 3Q earnings surge to $16.9 mil on one-off gain by associate

Stanislaus Jude Chan
Stanislaus Jude Chan11/7/2017 05:37 PM GMT+08  • 2 min read
Perennial's 3Q earnings surge to $16.9 mil on one-off gain by associate
SINGAPORE (Nov 7): Perennial Real Estate Holdings saw 3Q earnings surge to $16.9 million from $425,000 a year ago.
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SINGAPORE (Nov 7): Perennial Real Estate Holdings saw 3Q earnings surge to $16.9 million from $425,000 a year ago.

This was mainly attributable to higher share of results of associates and joint ventures, which soared to $29.8 million in 3Q17, from $3.6 million a year ago.

There was a gain on bargain purchase of $25.9 million arising from the acquisition on United Engineers (UEL) shares by the group’s associated company, Yanlord Perennial Investment (Singapore).

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