Chip Eng Seng Q3 profit more than doubles on sale of Australia property, higher revenue
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PROPERTY and construction firm Chip Eng Seng on Friday said that net profit more than doubled on a disposal gain and as revenue rose.
Net profit for the three months ended Sept 30, 2017 stood at S$14.05 million, up from S$5.71 million the same period a year ago.
The firm recorded a gain from the disposal of an office building at 420 St Kilda Road in Melbourne, Australia.
Revenue also rose 37.8 per cent to S$209 million.
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