Great Eastern has reported a net profit of SGD152.9 million for the first quarter of 2018, up 68% from the same period last year, with most of the growth from its home market of Singapore
Despite the profit bump, Great Eastern was also hit by losses due to changes in the fair value of investments attributed to “unfavourable market conditions”, the company said in a stock exchange filing on Friday. It lost SGD 722.7 million, compared to a gain of SGD1.02 billion for the first three months of 2017.
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