Chip Eng Seng profit falls 94.2% in Q4

SINGAPORE - Property and construction firm Chip Eng Seng on Thursday (Feb 4) posted a 94.2 per cent drop in fourth quarter net profit to S$9.8 million.

Revenue in the three months ended Dec 31 fell 58.3 per cent to S$153.9 million, due mainly to a one-off revenue recognition from the completion of retail deveopment Alexandra Central in 2014.

A dividend of 4 cents per share was declared, flat from a year ago.

Earnings per share stood at 1.57 cents, from 26.31 cents a year ago. Net asset value per share was 120.50 as at Dec 31, up from 117.22 cents a year ago.