Far East Orchard's net profit more than halves to $7.3 million from $16.1 million
Far East Orchard's second quarter net profit slumped by 54.7 per cent to $7.3 million.
Revenue for the three months to June 30 was up 35.2 per cent at $45.6 million.
The increase came mainly from property development, which contributed $27.8 million for the quarter, as compared to $19 million in the same period last year.
This is due to the initial recognition of revenue from the euHabitat project.