Tuan Sing's Q4 profit dips 4% to S$24.3m (Amended)

Singapore

TUAN Sing's net profit for the fourth quarter ended Dec 31, 2014 dipped 4 per cent from a year ago to S$24.34 million, as other operating expenses and finance costs offset a surge in revenue.

Revenue for the quarter rose 72 per cent year on year to S$112.1 million, attributable to higher revenue from the property segment and maiden contribution from Grand Hotel Group (GHG) between Dec 2 and Dec 31, 2014, after the group completed its acquisition of the remaining 50 per cent stake in GHG.