Wheelock Q1 profit dives in absence of disposal gain
Revenue slips 6.5% to $25.3m while bottom line is down 86.5%
Kalpana Rashiwala
Singapore
WHEELOCK Properties (Singapore)'s first-quarter net profit has slumped 86.5 per cent to $14.3 million, from $105.3 million a year ago. This was due mainly to the previous first quarter being boosted by a $93.8 million accounting gain on disposal of SC Global Developments shares.
Revenue for the three months ended March 31 slipped 6.5 per cent to $25.3 million. Earnings per share plunged to 1.19 cents from 8.8 cents previously. Net asset value per share dipped to $2.49 as at end-March from $2.51 as at end-December.
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