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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Wing Tai Holdings' profit surged to $18.16m in 2H2017

This was boosted by a 50% increase in revenue.

Wing Tai Holdings' Limited (Wing Tai) reported that its total profit ballooned by 270% YoY, from $4.91m in 2H2016 to $18.16m in 2H2017.

Its revenue also increased by 50% YoY from $131.09m to $197.11m in 2H2017. This was driven by higher contributions from its development properties, specifically in Le Nouvel Ardmore in Singapore, Le Nouvel KLCC in Kuala Lumpur, and BM Mahkota in Penang.

Further, operating profit was at $17.78m, from a loss of $0.9m in the same period of the previous year, which boosted the net profit attributable to shareholders from $3.19m to $20.82m in 2H2017.

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