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First Sponsor posts 37% increase in 4Q earnings on hotel ops, higher share of gains of associates and JVs

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First Sponsor posts 37% increase in 4Q earnings on hotel ops, higher share of gains of associates and JVs

Samantha Chiew Published on Thu, Feb 14, 2019 / 7:52 AM GMT+8

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SINGAPORE (Feb 14): First Sponsor announced that its 4Q18 earnings have increased by 36.5% to $58.2 million, compared to $42.7 million in 4Q17.

This brings earnings for FY18 to $113.0 million, 28.0% higher than $88.3 million in FY17.

Revenue for the quarter came in at $132.0 million, 26.8% lower than $180.3 million a year ago, due mainly to a decline in revenue from sale of properties and revenue from property financing.

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