Zhitong Financial App News, Jedi Group (08313) announced that the Group expects a net profit of about S $1.44 million for the six months ended June 30, compared with a net loss of about S $530000 for the same period last year.

The announcement said that the change from net loss to net profit was mainly due to an increase of S $3.32 million in group revenue, due to S $2.98 million in project management fees from developers' special purpose entities and S $1.62 million in performance fees from real estate funds managed by the group, partly offset by S $1.27 million in acquisition fees not obtained in the previous quarter.

The increase in income was partially offset by an increase of S $830000 in employee costs due to employee bonuses, S $340000 in income tax expenses and S $240000 in interest expenses.