SINGAPORE - Hotel owner and developer Stamford Land Corporation posted a fourth-quarter net profit of $8.9 million, reversing a $5 million net loss a year ago. Revenue rose from $60.5 million to $166 million for the three months to March 31, on the back of the stronger Australian dollar.

The firm also benefited from the sales of and profits from completed apartments in Macquarie Park Village. Full-year net profit rose 54 per cent to $34.6 million, while turnover grew 38.9 per cent to $314.7 million.

Quarterly earnings per share was 1.03 cents, compared with a loss per share of 0.58 cent a year earlier.

Net asset value per share was 57 cents as at March 31, compared with 52 cents a year ago.

A final dividend of 1 cent per share was proposed.