GuocoLand's Q4 net profit surges S$205m to S$244.8m

PROPERTY developer GuocoLand Limited's net profit for its fourth quarter leapt S$205 million to S$244.8 million from the preceding year, the group said in a Singapore Exchange filing on Sunday morning.

For the three months ended June 30, revenue surged 89.9 per cent to S$407.4 million from the previous year. The gain in revenue was due to higher sales and progressive revenue recognition from Singapore's residential projects as compared to the previous corresponding quarter, it said.

Earnings per share jumped to 22.06 Singapore cents from 3.44 Singapore cents in the previous year. Net asset value per share edged up to S$3.18 as at June 30, from S$2.95 a year ago.

A first and final one-tier exempt ordinary dividend of seven cents per share was declared for FY2017.

GuocoLand shares last closed S$0.01 or 0.4 per cent higher at S$2.29 on Friday.