Tiong Seng's Q1 net profit up 17% to S$3.74m
TIONG Seng Holdings' net profit for the first quarter ended March 31, 2016, rose 17 per cent to S$3.74 million, as revenue more than doubled to S$247.18 million.
The group said the surge in revenue was mainly due to increases in revenue from both construction contracts and property development of approximately S$54.1 million and S$90.4 million respectively.
Earnings per share stood at 0.82 Singapore cent, up from 0.69 cent in the corresponding period a year ago.
No dividend was declared.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Emerging-market optimism dashed by Fed as currencies, bonds sink
LHN warns H1 2024 net profit could decline by 28.6%
iPhone maker Hon Hai’s April sales rise 19% in positive signal
Worsening weather is igniting a US$25 billion market
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules