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Tuan Sing's Q1 net profit doubles to S$15.9m

Tuan Sing Holdings' net earnings doubled to S$15.94 million for the first quarter ended March 31, 2015 from S$7.71 million in the same year-ago period. Revenue surged 153 per cent to S$155.30 million from S$61.30 million. The group attributed its improved performance to higher contribution from property and hotels investment.

Earnings per share doubled to 1.4 cents from 0.7 cents in the same year-ago period. Net asset value per share stood at 70.2 cents as at end-March 2015, up slightly from 68.3 cents at end-December 2014.

The counter closed unchanged at 40.5 Singapore cents on Thursday. Tuan Sing announced its results after the stock market closed.