Evergro Properties reports full-year profit of S$7.5m

Evergro Properties has reported a full-year profit of S$7.5 million.

This is nearly six times higher than its income for 2005.

Evergro says the better performance is due to an increase in the sale of golf memberships and income from its golf course operation.

Going forward, the unit of Keppel Corporation expects the strong growth of the Chinese economy and foreign investments to be maintained this year.

Its main projects are in Tianjin and eastern China.

Demand for residential properties is expected to be sustained, although government efforts to moderate investments in the real estate sector are expected to continue.

Source: Channel NewsAsia, 18 January 2007 

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