Low Keng Huat Q4 profit soars
Completed projects contribute to sharp spike, offsetting other losses
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Singapore
LOW Keng Huat (Singapore) recognised two completed projects to give its fourth-quarter net profit a sharp spike despite declines in every other business segment, the builder and developer announced Friday evening.
Net profit in the three months ended January rose to S$61.4 million, or 8.31 Singapore cents, from a year-ago S$6.7 million. For the full fiscal year, net profit tripled to S$144.9 million, or 19.62 Singapore cents per share.
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