Ho Bee’s Q2 profit up 44.6%

Property developer Ho Bee on Tuesday said second-quarter net profit surged 44.6 per cent from the corresponding period a year earlier to S$72.9 million as revenue rose 6.7 per cent to S$147.1 million.

The rise in profit was due mainly to the increase in turnover and a gain of S$17.9 million in the sale of investment property, it said.

Ho Bee chairman and chief executive Chua Thian Poh said that the group’s earnings for the second half year would remain positive as the residential projects, Parvis and Trilight, were expected to complete by the end of this year.

Source : Today – 14 Aug 2012

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