09 Nov '17, 3am

Aspial Corp records $7.51m in earnings in 9M 2017

Aspial Corporation’s net profit soared by more than five-fold to $7.51 million in 9M 2017 compared to $1.38 million in the same period a year ago, revealed an SGX filing on Wednesday (8 November). However, the jewellery seller and property developer’s revenue declined by 19 percent from $440.85 million to $354.95 million over the same period, while the contribution from its real estate business slumped by 42 percent from S$235.9 million to $136.7 million. “The revenue for 9M 2017 was mainly contributed by the progress recognition of sales from CityGate and final recognition of sales from [email protected] as compared to 9M 2016 where there were higher revenue contributions from The Hillford, [email protected], Urban Vista and CityGate.” “Although the group has made good progress in the sales and construction of its overseas projects, unlike in Singapore, it cannot progressiv...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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