Thakral profit surges to $19.5m on strong investment and lifestyle segment

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.

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