SINGAPORE - First quarter net profit for lifestyle group Amara Holdings rose 8 per cent to $3.7 million, thanks to additional units of development property sold and rental income from investment properties.

Revenue for the quarter was up 33 per cent to $23.8 million.

The company's hotel investment and management segment also contributed to the higher revenue from both room and food and beverage division, it noted.

Earnings per share for the three months to March 31 was 0.64 cent, up from 0.59 cent a year back.

Net asset value was 59.97 cents at March 31, up from 58.64 cents at Dec 31.

Its shares closed up a cent at 55.5 cents on Wednesday.