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Sim Lian ekes out small gain in full year profit

Published on Aug 28, 2014 9:31 PM

SINGAPORE - Developer Sim Lian Group has eked out a 2 per cent rise in full year net profit to $171 million.

Revenue for the year to June 30 fell by 4 per cent to $714.7 million.

Pretax profit was 3 per cent higher at $200.1 million, mainly due to reduced contract costs and higher share of results of joint ventures, offset by change in fair value of investment properties.

The property development division contributed $506.7 million to group revenue, down from $586 million last year.

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