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Keppel Land posts 12.2% rise in Q2 net profit to $107.2 million

Published on Jul 23, 2014 6:39 PM
 
Keppel Land's 8 Park Avenue. Keppel Land's net profit for the second quarter ended June 30 rose 12.2 per cent to $107.2 million, thanks to higher contributions from it's residential projects in China. -- PHOTO: KEPPEL LAND

SINGAPORE - Keppel Land's net profit for the second quarter ended June 30 rose 12.2 per cent to $107.2 million, thanks to higher contributions from it's residential projects in China.

However, revenue fell 7.8 per cent to $304.6 million.

Keppel Land said revenue from its property trading business fell mainly because of lower contributions from its Shanghai projects, 8 Park Avenue and The Springdale.

Its overseas net profit represented 33.2 per cent of group earnings for the quarter, compared with 33.8 per cent in the same period last year.

 
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