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FINWIRES

First Sponsor's European Property Portfolio Books Net Operating Income of EUR7.8 Million in Q1

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-- First Sponsor's (SGX:EB5) European property portfolio booked a net operating income of 7.8 million euros in the first quarter of the year, unchanged from a year earlier, according to a Monday filing with the Singapore Exchange.

The property investment firm expects portfolio income to be enhanced following the opening of a hotel in Italy and the expected completion of two properties in the Netherlands.

Meanwhile, overall occupancy rose to 57.1%, while portfolio average daily rate edged down by 0.6% to 120.4 euros.

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