Soilbuild reports 13% dip in '14 profits

Singapore

SOILBUILD Construction Group (Soilbuild) reported on Monday a net profit of S$20.9 million for the full year ended 31 December 2014, 13.1 per cent lower compared to the corresponding period a year ago.

This was caused mainly by a S$2.6 million decrease in the share of profits of joint ventures following completion of the development project Solstice Business Centre undertaken by its joint venture in FY2013.