Perennial Real Estate's 2Q earnings drop by half to $8.6 mil despite revenue growth

By Michelle Zhu / The Edge Singapore | August 3, 2018 11:27 AM SGT
SINGAPORE (Aug 3): Perennial Real Estate Holdings reported 2Q18 earnings of $8.6 million for 2Q ended June, halving from the group’s 2Q17 earnings of $17.1 million due to a comparatively lower fair value gain and higher finance costs than a year ago.
Revenue for 2Q grew 1.6% to $18.1 million due to the consolidation of Capitol Singapore’s revenue with effect from May 2018 and improved performance from Perennial Qingyang Mall and Perennial Jihua Mall.
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