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Rowsley swings to 1Q net loss of $1.6 mil on lower fair value gains

PC Lee
PC Lee4/26/2017 06:13 PM GMT+08  • 2 min read
Rowsley swings to 1Q net loss of $1.6 mil on lower fair value gains
SINGAPORE (April 26): Rowsley, the diversified property company with businesses in design and  engineering, real estate development and hospitality, swung to a net loss of $1.6 million for 1Q17 ended March from a profit of $4.8 million last year.
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SINGAPORE (April 26): Rowsley, the diversified property company with businesses in design and engineering, real estate development and hospitality, swung to a net loss of $1.6 million for 1Q17 ended March from a profit of $4.8 million last year.

Its bottomline was dragged down by lower other income, higher staff costs, a net foreign exchange loss and smaller fair value gain.

Group earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at $1.6 million, 79% lower compared to $7.8 million a year ago after the group recorded fair value gains of $2.9 million, 68% lower than the $9 million recorded a year ago.

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