Perennial net profit rises 93% in Q4

SINGAPORE -Perennial Real Estate on Thursday (Feb 4) posted a 93 per cent rise in fourth quarter net profit to S$41.1 million, due mainly to fair value gains on revaluation of investment properties, contribution from operating assets in Singapore and China, and income from its fee-based management businesses.

Revenue in the three months ended Dec 31 rose 90 per cent to S$28.4 million.

A first and final dividend of 0.4 cents per share was declared. No dividend was declared for the previous financial year ended June 30 2014.

Perennial was formed through a reverse takeover of St James Holdings on Oct 27 2014.

Earnings pe share stood at 2.48 cents, down from 2.95 cents a year ago. Net asset value per share was S$1.688 per share as at Dec 31, up from S$0.003 per share as at June 30 2014.