, Singapore

Wing Tai profits surge 406% to $9.5m in Q4

Thanks to higher profits from its associates and JVs.

Wing Tai Holdings' (Wing Tai) profits soar from $1.9m to $9.5m, marking a 406% difference, for the final quarter of its fiscal year.

According to its financial statement, this also reflected in the full year results. Profits rose 184% to $20.1m for the full year.

The rise in profits was attributed to higher contributions from its associates and joint ventures (JV).

Share of profits increased 24% to $73.4m for the full year. For Q4, it climbed by 8% to $32.2m.

UOB said a tax credit of $5.3m also improved the bottom line.

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