The higher earnings are attributable to the share of after-tax profit of associates and joint ventures (JVs), which surged by 59.6 times to $19.4 million in the 2HFY2022, up from $325,000 in the 2HFY2021.
First Sponsor Group (SGX:ADN
) , which is 35.72% held by City Developments, and 45.63% owned by Tai Tak Estates, reported earnings of $59.9 million for the 2HFY2022 ended Dec 31, 2022, 14.1% higher than the earnings of $52.5 million in the corresponding period the year before.
For the FY2022, the group’s earnings increased by 8.1% y-o-y to $131.3 million.
