SINGAPORE (April 26): Rowsley, the property firm 49% owned by tycoon Peter Lim, reported a 53% rise in 1Q earnings to $4.8 million from $3.1 million in the same quarter a year ago.

Group revenue was 25% higher at $20.5 million compared to 1QFY15, mainly due to higher contribution of $3.8 million from the UK hospitality group acquired in November last year, and now accounting for 18.5% of group revenue.

However, Rowsley’s architectural, engineering and master planning consultancy RSP saw marginal increase of $0.4 million in its revenue to $16.7 million, amid continued weakness Singapore’s real-estate market.

Other income for 1QFY16 amounted to $3.1 million, a slight decline from the same quarter last year.

In its update, Rowsley said it has submitted plans of Vantage Bay Healthcare City project in Iskandar Malaysia for planning approval.

In the UK, its St. Michael’s mixed development project in Manchester is progressing through the public consultation and planning approvals process.

In its hospitality business, the group says it intends to grow the Hotel Football brand in Europe and Asia as well as acquire hospitality management contracts in Asia.

Rowsley closed flat at 14.5 cents.