Developer Wing Tai Holdings says group revenue increased 91% to $603.9 million in the nine months ended 31 March 2009 from $315.9 million in the corresponding year earlier period.

Wing Tai says the increase is mainly due to higher contributions from the development properties division as more units were sold in the quarter, including units sold in Belle Vue Residences and units in The Riverine by the Park in Singapore that were progressively recognised.

Profits recognised from the above projects have contributed to the increase in the group’s operating profit from $91.7 million to $165.9 million, an increase of 81%.

As at 31 March 2010, the group’s net gearing ratio remained unchanged at 0.5 times.