Hersing posts 3Q net profit of $2.7m

Hersing Corporation says group revenue for the 3Q ending Sept 2011 was $73.9 million, 5.3% growth over the prior quarter. Profit after tax was $2.7 million.

Hersing says its real-estate segment generated revenue of $64.2 million representing growth of 5.1% over the prior quarter.

Its Western Union money remittance service brought in revenue and net profit of $7.9 million and $ 0.7 million respectively.

Hersing says its self-storage business joint venture continues to generate good operating results and we have secured new facilities for continued future growth in Shanghai, Guangzhou, and Admiralty Woodlands-Singapore.