YHS net falls 22% to S$13.3m in Q4

Singapore

YEO Hiap Seng's (YHS) net profit for the three months ended Dec 31, 2014 fell 22 per cent from S$17.1 million to S$13.3 million, mainly due to an absence of net profit from its property division and lower fair value gains on investment properties.

Revenue for the quarter similarly dropped, from S$103.4 million to S$99.7 million. For the full year ended Dec 31, net profit fell from S$87.6 million to S$29 million. Revenue dropped from S$513.3 million to S$437.6 million. This was mainly due to S$3.41 million lower net profit from the food-and-beverage (F&B) division; an absence of S$34.6 million net profit from its property division; S$19.31 million lower gains on disposal of available-for-sale financial assets; and S$3.69 million lower fair value gains on investment properties in the current financial year.