The hot housing market has boosted the annual earnings of property developer Wing Tai Holdings. Its net profit for the financial year ended June, soared seven-fold to S$160.8 million from S$21.0 million in the previous year. Its fourth quarter net profit came in at S$68.9 million compared to a loss of S$53.8 million a year ago. Wing Tai's property sales were the main drivers of its increased annual...
Wing Tai
Property developer Wing Tai Holdings has posted an eight per cent increase in third quarter net profit to S$23.2 million compared to a year ago. This came on the back of a hefty 89.6 per cent rise in revenue for the quarter to S$149.54 million. This comes on the back of higher contributions from the development projects in its properties division. Wing Tai said profits recognized from units sold in...
WING Tai Holdings yesterday reported a 7 per cent climb in fiscal second quarter net profit to $22.3 million from $20.9 million a year earlier as it sold more homes. The rise in earnings for the three months ended Dec 31, 2009, came on the back of a 93 per cent surge in revenue to $177.1 million from $92 million a year ago. Q2 earnings per share climbed to 2.87 cents in Q2 from 2.67 cents the previous...
Wing Tai Holdings on Friday announced a profit of S$22.3 million for the fiscal second quarter. This was a 7 per cent increase from the corresponding period last year. Revenue for the quarter came in at S$177 million. This was a 93 per cent increase from the same period last year. For the half-year ended 31 December 2009, the Group posted a revenue of S$454.3 million. This was a 101 per cent increase...
Wing Tai Holdings has booked a sharp drop in annual earnings. Net income for the year ended in June came in at S$21 million, down by some 90 per cent on-year. The bottomline was dragged lower by fair value losses on investment properties. Meanwhile, its revenue climbed by 18 per cent to S$428 million. With the residential property market showing signs of a pickup in recent months, Wing Tai Holdings took...
Singapore-listed property counters have been massively sold down in recent weeks. They are underperforming the benchmark STI, with losses of about 61 per cent year-to-date. With the outlook for the sector still cloudy, analysts say they would prefer to remain cautious on these property stocks for the year ahead. Weak new home sales in Singapore have translated into soft earnings, a poor outlook, and...
Property developer Wing Tai Holdings on Monday said its third-quarter net profit fell 49 percent to about S$28 million. This comes as revenue fell 63 percent to S$110 million. For the nine months, its net profit declined 4 percent to S$133 million. The company said the drop was due to lower revenue and operating profit from its development properties division. It noted that the US sub-prime crisis and...
Property developer Wing Tai has reported a 25 percent rise in half-time earnings to S$105 million. Draycott8 This is due mainly to higher contributions from the sale of its condominium projects. Revenue fell 52 percent to S$211 million. In the second quarter, earnings fell 19 percent to S$44 million, following a 59 percent fall in the topline figure to S$111 million. Wing Tai did not give a guidance...
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