Absence of property development revenue drags down Popular Holdings' results
THE absence of contribution from property development dragged third-quarter net profit at Popular Holdings down by 4 per cent to $11.7 million.
Turnover for the three months ended Jan 31 also fell, by 8 per cent to $152.8 million.
The book retailer and developer said that it registered no turnover for the property development division during the quarter, compared to $6.3 million in the same period last year.
Revenue contribution from the retail and distribution segment was also lower, by $7.2 million.