Figtree Q3 profit jumps to S$3m on revenue from two projects

FIGTREE Holdings' third-quarter net profit almost tripled to S$3 million as it recognised revenue from two projects.

The builder of industrial facilities said earnings per share was 1.06 Singapore cents for the three months ended September. Nine-month earnings grew 72.3 per cent to S$9.7 million, or 3.44 Singapore cents per share.

Shares of Figtree slipped 2.8 per cent or 0.4 Singapore cent to close at 13.8 Singapore cents on Friday.

Figtree recognised revenue from Crystal Freight Services Distripark and Development 8 during the quarter, raising its turnover for the quarter by 162 per cent to S$48.2 million.

Figtree said it is "cautiously optimistic" about prospects for the next 12 months. Its current order book in the design-and-build segment stands at about S$66.6 million.