Bukit Sembawang posts Q3 net profit of S$44.6m on higher profit recognition, sales
HIGHER sales and higher profit recognition on more development projects lifted property developer Bukit Sembawang Estates' financials for the third quarter ended Dec 31.
Net profit leapt to S$44.6 million from a restated S$12 million in the year-ago period, as revenue jumped to S$122.3 million from a restated S$17.5 million in Q3 a year ago.
Profits for the third quarter this financial year were recognised for 8 St Thomas, Nim Collection Phase 1 and 2, and Watercove. In the same quarter a year ago, it recognised profits for Skyline Residences and Watercove.
Earnings per share shot up to 17.24 Singapore cents from 4.63 cents in the year-ago period.
The group expects to complete Nim Collection Phase 1 and 2 by 3Q 2019. It will also launch Luxus Hills Phases 8-9 landed properties this year.
Bukit Sembawang shares ended S$0.03 or 0.5 per cent higher at S$5.63 on Thursday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2