Wheelock Properties reverses losses to clock S$20m in net earnings in Q4

LOWER cost of sales gave a fillip to results for Wheelock Properties in its fourth quarter.

Net profit was S$19.9 million, a reversal from a net loss of S$16.4 million in the preceding year, the group said in a Singapore Exchange filing on Tuesday evening.

For the three months ended Dec 31, revenue dived 42.7 per cent to S$128.6 million from the previous year.

Earnings per share came in at 1.66 Singapore cents, a reversal from a loss per share of 1.37 Singapore cents in the previous year.

Net asset value per share crept up to S$2.61 as at Dec 31, 2017, from S$2.50 a year ago.

Dividend per share was flat at six Singapore cents for the full year.

Shares of Wheelock Properties closed S$0.01 or 0.5 per cent up at S$1.88 on Tuesday.