Sim Lian Group Q2 profit up 59% to S$40.49m

SIM Lian Group has posted a 59 per cent increase in second quarter net profit to S$40.49 million from S$25.48 million in the same quarter of the preceding year.

Revenue more than doubled to S$194.33 million for the quarter ended Dec 31, 2015 from S$91.38 million in the same period of the preceding year.

Revenue from the property development division jumped to S$75.17 million in Q2 FY2016 from S$26.30 million in Q2 FY2015. Revenue from the construction division climbed 95 per cent to S$105.51 million from S$54.04 million previously.

Earnings per share rose to 4.02 Singapore cents for Q2 FY2016 from 2.53 Singapore cents for Q2 FY2015. Net asset value per share stood at S$1.13 as at end-December 2015, slightly lower than the S$1.16 at end-June 2015.

The counter ended unchanged at 76 Singapore cents on the Singapore bourse on Friday.