First Sponsor Group profit up 65.7% in Q4

SINGAPORE - Chinese property developer First Sponsor Group has posted a net profit of $31.9 million in the fourth quarter, up 65.7 per cent from a year ago.

Revenue in the three months to Dec 31 rose 18.7 per cent to $100.3 million, due mainly to higher revenue from the sale of properties, higher rental income from investment properties, and an increase in revenue from property financing.

A final tax-exempt dividend of 1.0 cent per share was recommended, bringing the group's total dividend to 1.7 cents per share for last year.

Earnings per share stood at 5.41 cents, up from 3.26 cents a year ago.

Net asset value per share was 165.26 cents as at Dec 31, up from 151.65 cents a year ago.