Tuan Sing reports rise in Q1 profit despite slump in revenue
Published on Apr 29, 2014 7:06 PM
TUAN Sing Group's first quarter revenue for 2014 fell 6 per cent to $61.3 million, compared with $64.9 million in the same period last year.
This is a result of fall in revenue from its industrial services due to lower commodity trading activities.
Despite poor performance in its industrial services sales, the group's property division did well due to units sold at its Seletar Park Residence, Senett Residence, as well as new bookings for its new Cluny Park Residence that was launched in March this year.
It expects more revenue from these projects to come in by 2015.
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