Thanks to strong non-real estate performance.
Mainboard-listed Yoma reported that its third-quarter net profit rose by 240% to $27.4 million year-on-year, despite a 5% decline in revenue to $23.7 million.
The strong growth in net profit was largely attributed to the fair value gain recorded for its telecom tower business and the strong performance of its non-real estate segments, offsetting the slowdown in real estate sales.
Revenue from Yoma’s non-real estate businesses recorded a 260% growth to $13.8 million in the quarter, mainly driven by its New Holland tractors business.
The revenue contributed by the group’s vehicle leasing arm also more than doubled to S$1.1 million in the quarter..
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