Far East Orchard Ltd. (SG:O10) has released an update.
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Far East Orchard Limited reported a substantial increase in net profit to S$18.0 million for the first nine months of FY2024, driven by growth in its Purpose-built Student Accommodation segment and stable contributions from its hospitality business in Japan and Europe. Despite challenges from geopolitical tensions and financial volatility, the group’s operating profit rose by 16.4% to S$47.6 million. The company remains optimistic but cautious about future growth due to market uncertainties.
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