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

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SINGAPORE (Aug 3): Perennial Real Estate Holdings reported 2Q18 earnings of S$8.6 million for 2Q ended June, halving from the group’s 2Q17 earnings of S$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 S$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.

New revenue streams from Perennial International Health and Medical Hub (PIHMH) in Chengdu, which commenced operations in June 2018, also contributed to the overall revenue growth... (Click here to read the full story)