Wing Tai's Q1 profit nearly trebles to $72 million
Wing Tai Holdings' first quarter net profit nearly trebled to $72.1 million from $25.1 million.
Revenue for the three months ended Sept 30 jumped by 127 per cent to $247.1 million.
Revenue came mainly from additional units sold in Belle Vue Residences and Helios Residences as well as progressive sales recognised from Foresque Residences and L'VIV.
Its share of profits from associated and joint venture companies increased to $39.9 million from $24.7 million, mainly due to the higher contribution from Wing Tai Properties in Hong Kong.