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Sing Holdings net profit in H2 declines 24.7% to S$6.7m

Fall comes even as revenue rises 5.4% to hit S$66.5m; board proposes final dividend of S$0.01 per share, unchanged from previous year

Published Fri, Feb 18, 2022 · 05:50 AM

Sing Holdings

Singapore

PROPERTY development and investment group Sing Holdings reported on Thursday (Feb 17) a 24.7 per cent decline in net profit for its second half, despite higher revenue.

Net profit for the six months ended Dec 31, 2021 fell to S$6.7 million from S$8.9 million in the prior-year period. On a per-share basis, earnings fell to S$0.0167 from S$0.0221.

The decline in net profit came even as revenue rose 5.4 per cent during the period to hit S$66.5 million.

Revenue for the period comprised mainly recognition of sales proceeds from a private condominium development and sales of compl…