GuocoLand Q4 net profit jumps to S$244.8m
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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 compared to the previous corresponding quarter, it said.
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