Property developer Bukit Sembawang Estates has returned to profitability in the fourth quarter and the full year ended March 31, 2010. For the quarter, net profit was at $41.90 million compared to a net loss of $61.44 million a year ago. Revenue rose to $21 million from $4.86 million. In the full year, profit was at $52.97 million, compared to a net loss of $48.41 million a year ago. Revenue rose 5.4% to...
Bukit Sembawang Estates
Bukit Sembawang Estates said net profit for its fiscal first quarter fell 84 per cent on-year to S$1.4 million. Revenue dropped 72 per cent to S$6.4 million. The property developer said the decline was mainly due to lower development revenue recognised on its Paterson Suites condominium. The firm noted that there has been a recent pick-up in the property sector, but said it remains cautious during this...