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Wheelock posts Q2 earnings of S$17.74m

Profit falls 85% despite revenue surge as 2Q14 included S$109m negative goodwill

Published Fri, Aug 14, 2015 · 09:50 PM

Singapore

DESPITE more than trebling second-quarter revenue from a year ago, Wheelock Properties (Singapore) posted an 85.3 per cent slump in net profit for the three months ended June 30 to S$17.74 million. This was mainly because the year-ago corresponding quarter carried a negative goodwill of S$109 million.

"The provisional negative goodwill included in the group's share of results of associates for the period ended 30 June 2…

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