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Wing Tai's revenue hurt by slowing sales

Q3 revenue falls 35% to S$113m, net profit drops 27% to S$2.1m

Published Fri, May 6, 2016 · 09:50 PM

Singapore

REGIONAL property developer Wing Tai Holdings saw its takings hit by slowing sales of its property units.

Its revenue for the third quarter was down 35 per cent to S$113.0 million, from S$174.1 million a year ago.

Revenue for the nine-month period ended March 31, 2016, was down 12 per cent to S$403.8 million, from S$460.8 million the year before.

Wing Tai said the revenue for the period was mainly attributable to the progressive sales recognised from its development, The Tembusu,…

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