16 Jun '17, 4am

Low Keng Huat net profit up 65% in Q1

Increase in share of profits from AXA Tower offset by net loss in construction business is one of the main factors attributed to the increase in Low Keng Huat’s Q1 revenue. (Image: Perennial Real Estate Holdings Limited) Property firm Low Keng Huat saw its revenue for the first quarter ended 30 April 2017 increase by seven percent to S$16.9 million while its net profit soared 65 percent to S$5.4 million. The group attributed the increase primarily to higher profits from its investment and development segments. While revenue fell by S$0.2 million to S$4.4 million in Q1 2017, the group’s investment division posted a net profit before tax and controlling interests of S$2.7 million in Q1 2017, up S$2.2 million from the S$0.5 million registered previously. “The increase was mainly due to the decrease in share of losses from Westgate Tower, increase in other income from disposal...

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

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