Sygnus Real Estate posts $315 million net profit, driven by One Belmont project gains

Sygnus Real Estate is reporting increased net profits of $315 million for the financial year ended August.

Revenues increased to $839 million compared with $765 million for the same period in the prior year.

Sygnus says this was primarily due to an increase in gain on investment property and a higher share of gain on joint revenues as the One Belmont project nears completion when it will generate income.