Wing Tai reports 25% rise in H1 earnings to S$105m

Property developer Wing Tai has reported a 25 percent rise in half-time earnings to S$105 million.

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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 on its outlook, but said it would monitor the market closely in light of the volatility. – CNA/ms

Source : Channel NewsAsia – 25 Jan 2008

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