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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Yoma Strategic’s net profit skyrockets by 240% to $27.4m in 3Q

On back of its non-real estate segments.

Yoma Strategic managed to turn around a slightly lower top line in the third quarter to post a 240% jump in its bottomline.

According to a press release by Yoma Strategic Holdings, the strong growth in its net profit was due to the fair value gain recorded for its telecom tower business, along with the strong performance of its non-real estate segments, effectively offsetting its lackluster real estate sales.

“Revenue from the Group’s non-real estate businesses recorded a 260% growth to S$13.8 million in 3Q2016, mainly driven by its New Holland tractors business with the sales for its tractors recoding strong growth of 76%,” the press release said.

Additionally, earnings from its vehicle leasing arm also more than doubled to $1.1m in 3Q16.

“During the current quarter under review, the Group opened its second and third KFC stores in Yangon, while its ‘Balloons Over Bagan’ tourism business, which runs from October to March every year, continued to record healthy growth supported by the growing tourism market in Myanmar,” Yoma said.

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