Tuan Sing's Q2 profit surges on strong property, hotel segments

Singapore

TUAN Sing Holdings reported a 92 per cent surge in net profit for the second quarter ended June 30 to S$22.3 million, buoyed by a higher contribution from property and hotel investment segments. Its revenue more than doubled to S$194.1 million in Q2 2015, from S$81.6 million in the same period last year.

For the first half of the year, net profit surged 98 per cent to S$38.2 million as revenue more than doubled to S$349.4 million from S$142.9 million in the same period last year.

Revenue from the property segment - which focuses on property development and investment - leapt 197 per cent to S$220.6 million. The segment contributed 63 per cent of group revenue and 79 per cent of group profit af…