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GuocoLand's Q2 net profit rises 3% to $12.9 million

Published on Jan 24, 2014 8:35 PM

GuocoLand has eked out a 3 per cent rise in second quarter net profit to $12.9 million.

Revenue for the three months to Dec 31 was 8 per cent higher at $254.3 million.

Cost of sales increased by 16 per cent.

The rise in revenue and cost of sales were mainly due to higher progressive recognition for the group's Singapore residential projects and profit recognition for the handed over units of Seasons Park in Tianjin, China.

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