GuocoLand Q4 net profit jumps to S$244.8m

Singapore

GUOCOLAND Limited's net profit leapt S$205 million to S$244.8 million from the preceding year in its fourth quarter, helped by fair value gain from Tanjong Pagar Centre's Guoco Tower, the group said in a Singapore Exchange filing on Sunday.

For the three months ended June 30, revenue surged 89.9 per cent to S$407.4 million from the previous year. The gain in revenue was due to higher sales and progressive revenue recognition from Singapore's residential projects as compa…