Sim Lian, Lee Kim Tah report lower profits
SIM LIAN Group yesterday posted a 48 per cent slide in net profit to $17.1 million, on the back of a 50.7 per cent drop in revenue to $96.5 million for its third quarter ended March 31, 2014.
Earnings per share for the quarter fell to 1.7 cents, from 3.3 cents a year ago.
This was due to lower contributions from its property development division, whose contribution to the group's revenue fell 67 per cent year-on-year, "mainly due to reduced revenue contribution from Waterview project as it has obtained its TOP (temporary occupation permit) in January 2014."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Brokers’ take: KGI initiates Winking Studios with ‘outperform’, S$0.34 target price
Delayed rate cuts expected to benefit Singapore banks’ otherwise uneventful Q1 earnings
Fast-fashion giant Shein wants to sell skincare, toothpaste and toys, too
Asia’s first spot Bitcoin and Ether ETFs gain in Hong Kong debut
Cromwell E-Reit posts 10.2% drop in indicative Q1 DPU to 3.505 euro cents
Bangkok airports set for US$4.8 billion expansion as tourism booms