TCT says Q1 profits up 9.7%

Treasury China Trust (TCT) on Monday posted a 9.7 per cent gain in first quarter net profit to S$7.71 million, up from S$7.03 million a year ago.

Helped by assets acquired over the prior year, this translates to a quarterly earnings per unit of 3.0 cents compared to 2.7 cents in the same period last year.

As a Singapore-listed entity, TCT's reporting currency is in Singapore dollars, which takes into account its appreciation against the Chinese yuan.

Gross revenue for Q1 leapt 33.5 per cent year-on-year to S$25.97 million, while net property income rose 28.4 per cent to S$15.99 million.

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