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Wing Tai's Q1 net profit more than triples to S$6.8m
This is due to a 20% fall in cost of sales and higher profits from associates, joint ventures
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Tay Peck Gek
Published Wed, Oct 23, 2019 · 09:50 PM
Singapore
WING Tai Holdings' net profit more than tripled to S$6.8 million for the first quarter ended Sept 30, thanks to a 20 per cent reduction in the cost of sales and higher profits from associates and joint ventures.
The mainboard-listed property investment and development player, with lifestyle retail business, saw its bottom line jump to S$6.8 million from S$2.2 million for the corresponding period a year ago. Consequently, its earnings per share was 0.47 Singapore cent for the quarter ended Sept 30, compared to 0.09 cent for the year-ago period.
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