Chip Eng Seng Q3 profit more than doubles on Aussie property disposal
Firm notches net profit of S$14m in the quarter; revenue up 38% to S$209m
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Singapore
PROPERTY and construction firm Chip Eng Seng on Friday said that net profit for the third quarter more than doubled on a disposal gain as revenue rose. Net profit for the three months ended Sept 30 stood at S$14.05 million, up from S$5.71 million the same period a year ago. This translated to earnings per share of 2.26 Singapore cents, up from 0.92 Singapore cents.
The firm recorded a gain from the disposal of an office building at 420 St Kilda Road in Melbourne, Australia.
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