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Rowsley reports smaller net loss of $58 mil on cusp of transformation into healthcare player

PC Lee
PC Lee3/2/2018 07:15 AM GMT+08  • 2 min read
Rowsley reports smaller net loss of $58 mil on cusp of transformation into healthcare player
SINGAPORE (Mar 1): Rowsley reported a smaller net loss of $58.0 million in FY17 versus a net loss of $69.8 million in FY16.
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SINGAPORE (Mar 1): Rowsley reported a smaller net loss of $58.0 million in FY17 versus a net loss of $69.8 million in FY16.

The real estate company reported a 9% decrease in group revenue of $93.9 million for FY17 compared to $103.1 million in FY16.

The decrease in revenue was mainly due to the impact of a significant slowdown in Singapore’s private sector building development on the revenues of RSP Singapore which does architecture and engineering works. However, this was offset by strong growth in revenues from its overseas subsidiaries, as well as full-year contribution from Squire Mech, a mechanical and electrical engineering consultancy, which became a wholly-owned subsidiary of the group in August 2016, and AC Consortium, which was acquired in June 2017.

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