Sunday, Dec 21, 2014Sunday, Dec 21, 2014
 

Far East Orchard reels in strong Q1 earnings

Published on Apr 24, 2014 9:13 PM
 

SINGAPORE - Far East Orchard has chalked up a sharp jump in first quarter net profit to $15.1 million from $1.5 million previously, fuelled mainly by contributions from an acquisition.

Sales for the three months to March 31 soared to $76 million compared to $19.2 million in the same period last year.

Revenue from the hospitality division increased by $36.3 million to $53.5 million, mainly due to the hospitality businesses acquired from The Straits Trading Company on Nov 1.

Revenue from the property development division increased by $20.2 million, primarily as a result of progressive recognition of revenue from the euHabitat residential project.

 
If you are not a subscriber, you can get instant, unlimited access here

Videos