First Sponsor Group Reports Subdued Pre-Sales, Sales of Chinese Properties in Q3

MT Newswires

Oct 27

First Sponsor Group (SGX:ADN) said its pre-sales and sales of the property development projects in China showed "no meaningful improvement" due to the continuing weak market sentiment, according to a Monday filing with the Singapore Exchange.

The company's European portfolio recorded marginally stronger operating income of 14.9 million euros, up from 14.7 million euros a year ago. However, its revenue was down 3.5% to 33.9 million euros from 35.2 million euros a year earlier.

The company also completed the refinancing for its committed credit facilities expiring in 2025 as well as a portion of those expiring in 2026.

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