Thakral profit surges to $19.5m on strong investment and lifestyle segments
Thakral Corporation Ltd reported a 382% year-on-year increase in net profit to $19.5 million for Q3, driven by strong investment returns and a robust lifestyle segment. Key contributors included a $22.6 million fair value gain from its stake in GemLife and a $2 million gain from the sale of a property in Osaka. The lifestyle division's profit rose 26.8% to $13 million, fueled by demand in Greater China and South Asia. Thakral anticipates a $28.5 million contribution from its stake in The Beauty Tech Group in Q4.
GemLife revaluation and Osaka sale boosted the quarterly results.
Thakral Corporation Ltd’s net profit jumped 382% year on year (YoY) to $19.5m in the third quarter, supported by stronger investment returns and solid performance in its lifestyle segment, according to a company press release.
The company recorded a $22.6m fair value gain from its 16.8% stake in GemLife after a valuation uplift on the Australian Securities Exchange. It also booked a $2m gain from selling its Yotsubashi Nakano Building in Osaka, which achieved a 13.7% premium to book value.
Profit from the lifestyle division rose 26.8% to $13m, driven by demand in Greater China and South Asia and continued expansion of its Miu Miu Fragrances and Yuesai skincare lines.
Thakral said its 6.04% stake in The Beauty Tech Group, recently listed in London, is expected to contribute about $28.5m to its Q4 results.
