Singapore Back to Real Estate News Homepage to RSS for this country

SG Property News

SG Wing Tai reports 102% profit hike

Property Here - Wednesday, August 28, 2013

Share to:

Singapore-listed developer Wing Tai Holdings has recorded a 102 percent net profit gain to S$531.1 million from S$262.4 million last year. Full-year revenue also increased 113 percent to S$1.33 billion from S$624.9 million in FY2012.

In a statement, Wing Tai attributed the strong results from progressive sales of Foresque Residences (pictured) and L’VIV, the additional units sold in Helios Residences and Belle Vue Residences, as well as contributions from Verticas Residences, a luxury project in Kuala Lumpur.

“Verticas Residences obtained its TOP in the current year and the revenue for all the units sold as at the end of the current year was fully recognised,” it added.

 

Nikki De Guzman, Junior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg