Singapore: FSL Trust has made its first quarterly profit in three years. The trust managed a $1m profit for the second quarter of its financial year, compared to a $7.1m loss in the corresponding period in the previous year.
Alan Hatton, ceo of the trust, commented: “We are pleased that the Trust has generated a quarterly profit for the first time in three years and, more importantly, seen a strong increase in cash generation. This follows a challenging and tumultuous 12 months and demonstrates that, so far, our restructuring efforts have produced good results. Significant progress has been achieved in improving the Trust’s performance and therefore safeguarding its future.” [15/08/14]