Tuan Sing Q3 earnings down 52%

PROPERTY developer Tuan Sing Holdings posted a 52 per cent year-on-year decline in third-quarter net profit to $5.8 million, on lower revenue from the sale of development properties.

Group revenue for the three months ended Sept 30, 2013, fell 35 per cent to $54.2 million.

For the nine months to September, group net profit declined 12 per cent to $26.7 million, while revenue fell 9 per cent to $237 million. 3Q13 earnings per share (EPS) was 0.5 cent (against one cent a year earlier) and 9M13 EPS was 2.3 cents (down from 2.6 cents).