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Tiong Seng's Q1 net profit up 17% to S$3.74m

TIONG Seng Holdings' net profit for the first quarter ended March 31, 2016, rose 17 per cent to S$3.74 million, as revenue more than doubled to S$247.18 million.

The group said the surge in revenue was mainly due to increases in revenue from both construction contracts and property development of approximately S$54.1 million and S$90.4 million respectively.

Earnings per share stood at 0.82 Singapore cent, up from 0.69 cent in the corresponding period a year ago.

No dividend was declared.