15 May '17, 3am

Heeton posts 12.4% rise in Q1 revenue

Profit shares from associated firms and joint ventures slumped from S$6.26 million to S$2.11 as Heeton stopped recognising earnings from completed residential projects NEWest, KAP and KAP Residences (pictured) (Image: Oxley Sanctuary Pte. Ltd.). Heeton Holdings Limited’s revenue increased by 12.4 percent to S$15.49 million in the first quarter of 2017 compared to S$13.79 million in the same period last year, revealed an SGX filing on Friday (13 May). The gain in revenue was mainly due to the recognition of higher sales proceeds from residential project [email protected] Pagar amounting to S$9.78 million, up from S$7.08 million in the first quarter of 2016. However, net profit plunged by 56.8 percent to S$2.52 million from S$5.84 million in Q1 2016 because of the absence of earnings from completed projects. Similarly, the share of profit from associated firms and joint ventures ...

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

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