30 Apr '13, 6am

SC Global sale hikes up Wheelock net

http://www.businesstimes.com.sg/prem...k-net-20130430 Published April 30, 2013 SC Global sale hikes up Wheelock net $93m gain raises net profit to $105m; group will launch China project in Q4 By Felda Chay WHEELOCK Properties posted a first-quarter net profit of $105.3 million, eight times that of $13.1 million a year ago, thanks to a $93 million accounting gain on its disposal of shares in SC Global Developments Ltd in January. Earnings per share, in turn, jumped to 8.8 cents from 1.1 cents last year. Revenue for the three months ended March 31, 2013, climbed 3.4 per cent to $27 million from $26.1 million. This, coupled with a 29.9 per cent fall in cost of sales, resulted in gross profit rising 18.7 per cent to $21.3 million. The revenue increase stemmed from revenue recognised from condominium project Ardmore Three based on the progress of construction work, and interest...

Full article: http://forums.condosingapore.com/showthread.php?p=394059#...

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