Corporate digest

GuocoLand

PROPERTY developer GuocoLand on Thursday posted a 61 per cent increase in net profit to S$42.1 million for its first quarter ended Sept 30, on the back of a 62 per cent surge in revenue to S$272.5 million.

This was mainly due to higher progressive recognition of sales from Martin Modern condominium, it said. Earnings per share rose to 3.36 Singapore cents from 1.93 cents a year ago.