THE Straits Trading Company has recorded 18.1 per cent higher earnings for the third quarter, largely on the back of increased contributions from an enlarged property portfolio.
The Singapore-listed real estate, hospitality and resources company generated a net profit of S$14 million for the three months ended September, up from S$11.9 million in the corresponding period a year ago.
Earnings per share (EPS) improved year-on-year from 2.9 Singapore cents to 3.4 Singapore cents.
This was in spite of a 15.9 per cent drop in revenue for the third quarter, when the company raked in S$111.1 million, down from S$132.1 million a year ago.
No dividend has been declared.
For the first nine months, the company reported a net profit of S$57.6 million, up 39.7 per cent from S$41.2 million (restated). In contrast, the revenue for this same period dipped 4.3 per cent from S$367.2 million to S$351.3 million.
EPS for the nine-month period was 14.1 Singapore cents, up from 10.1 Singapore cents.
The counter was nine Singapore cents lower at S$2.02 when markets closed on Wednesday.