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Wheelock Properties' 1Q earnings jump more than threefold to $30.8 mil on profits from associates

Samantha Chiew
Samantha Chiew5/14/2018 07:52 PM GMT+08  • 2 min read
Wheelock Properties' 1Q earnings jump more than threefold to $30.8 mil on profits from associates
SINGAPORE (May 14): Wheelock Properties announced 1Q18 earnings increased more than threefold to $30.8 million, compared to $9.19 million in 1Q17 on higher share of profit of associates.
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SINGAPORE (May 14): Wheelock Properties announced 1Q18 earnings increased more than threefold to $30.8 million, compared to $9.19 million in 1Q17 on higher share of profit of associates.

Revenue for the quarter saw a 40.3% dip to $56.0 million from $93.7 million last year, as The Panorama and Ardmore Three have been completely sold last year, as well as lower interest income from the group’s investment in quoted securities.

Cost of sales halved from the previous year to $39.3 million, bringing 1Q18 gross profit to $16.7 million, 9.7% higher than $15.2 million a year ago.

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