SINGAPORE: Sim Lian Group posted a net profit of $16.4 million for the third quarter, down 82 per cent from a year earlier, as the group’s property development arm contributed only $3.9 million in revenue, a drop of 99 per cent.
Total turnover in the three months to March 31 was $163.3 million, a fall of 74 per cent from a year ago, as a 220 per cent rise in construction revenues to $146 million failed to offset the plunge in property development takings.
Third-quarter earnings per share was 1.63 cents, down from 8.96 cents a year ago. Net asset value per share was $1.14 as at March 31, down from $1.16 as at June 30 last year.
