Pollux Properties reports surge in FY18 earnings to $52 mil on higher one-offs

SINGAPORE (May 23): Pollux Properties reported full-year earnings surged nearly 20 times to $51.8 million in FY18 from $2.6 million a year ago in FY17.

This came on the back of higher other income which increased by $61.06 million to $61.59 million in FY18 mainly due to a $61.31 million gain from the bargain purchase of Pollux Alpha Investments (PAI) Group from its parent company Pollux Holdings for $201 million.