Ho Bee Land Q3 earnings climb on Australia project sales recognition

SALES recognition of two residential development projects in Melbourne and Gold Coast, Australia boosted results for Ho Bee Land in its third quarter.

Net profit surged 31.8 per cent to S$26.7 million from the previous year, the group said in a Singapore Exchange filing on Thursday.

For the three months ended Sept 30, revenue surged 44.4 per cent to S$47 million from the previous year.

Earnings per share expanded to four Singapore cents from three Singapore cents in the preceding year. Net asset value per share dipped to S$4.17 as at Sept 30, from S$4.23 as at nine months ago.

Ho Bee Land shares finished S$0.02 or one per cent up at S$2.11 on Thursday.