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GuocoLand Limited Q3 net profit, revenue up
DEVELOPER GuocoLand Limited posted a net profit of S$29.57 million for its third quarter for the period ended March 31, 2017, up from S$11.31 million a year ago, in part due to movements in foreign exchange and fair value changes on foreign exchange hedges.
Revenue is up 63 per cent to S$271.08 million, contributed by higher sales and progressive revenue recognition from Singapore's residential projects compared to the previous corresponding quarter.
Earnings per share stood at 2.66 Singapore cents, up from 0.80 Singapore cent the previous quarter. No dividend was declared for the quarter.