Wing Tai Holdings says net profit for the third quarter ended March 31 2011 rose 157% to$59.47 million from the corresponding period a year ago.
Revenue for the quarter rose 39% to $205.18 million, coming from the progressive sales recognised from Helios Residences and the additional units sold in Belle Vue Residences in Singapore.
Share of profits of associated and joint venture companies saw an increased 179% to $52.9 million mainly due to the higher contributions from The Floridian project in Singapore and from the contributions of Wing Tai Properties in Hong Kong.
Tuesday, May 3, 2011
Wing Tai posts 157% rise in 3Q net profit to $59.5m
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