Chip Eng Seng Q4 net falls
CONSTRUCTION and property group Chip Eng Seng's fourth-quarter net profit fell 11.7 per cent year-on-year, due to lower profits from its construction and property development divisions.
Net profit for the three months ended Dec 31, 2013 was $34.6 million or 5.34 cents per share, against $39.2 million or 5.93 cents per share a year ago.
A lower net fair value gain on the group's investment properties of $13 million, compared to $30 million a year earlier, also affected the bottom line.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Kraft Heinz misses sales estimates as higher prices deter customers
Marriott boosts full-year profit view after mixed Q1 results
J&J advances US$6.48 billion settlement of talc cancer lawsuits
US holds quarterly debt sale steady, starts buybacks this month
US dollar nears six-month high after pre-Fed data shock, yen steady
KFC parent Yum reports surprise drop in global same-store sales on weak demand