GuocoLand profits plummeted 85% to $26.1m in Q1

Profit shares from associates and joint ventures crashed 92% to $13.5m.

GuocoLand’s profit slid 85% YoY to $26.1m in its Q1 FY18/19 from $171.79m, an announcement revealed. Its revenue was slashed by more than half from $316.98m to $168m.

Revenue was dragged down by lower sales of completed residential units recorded as the firm has brought down its inventory of completed unsold units substantially in the past quarters, especially those in Singapore.

“Revenue contribution from the strong sales of Martin Modern will be recognised progressively in future quarters as it is currently undergoing construction,” the firm noted.

Other income for the firm rose by $6.6m whilst other expenses reduced by $9.5m YoY due to movements in foreign exchange and fair value changes on derivative financial instruments. Finance costs dropped 23% to $19.3m over higher capitalisation of finance costs during the quarter for projects.

Meanwhile, share of profit of associates and joint ventures crashed 92% to $13.5m amidst the recognition of profit from Changfeng Residence, the group’s joint venture residential project in Shanghai, in the previous corresponding quarter.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia