Aspial Corp reports sparkling profits on the back of record revenue
The company that successfully marketed Singapore's first retirement condo has chalked up a 23 per cent rise in net earnings to $67.5 million.
Revenue of Aspial Corp, which achieved a sell-out launch in January for The Hillford, increased by 14 per cent to a record $515.3 million.
Revenue from the property business grew by 23.2 per cent to $241.8 million in FY2013. The growth was contributed by the progress recognition of sales from Urban Vista, East Village, Cardiff Residence and 8 Bassein.
The jewellery business continued to consolidate its retail stores in 2013, which led to the closure of 11 retail stores and the opening of 10 new ones, mostly in new shopping malls.