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Bukit Sembawang’s 3Q earnings plunge 78% to $5.4 mil on lower revenue expenses

Michelle Zhu
Michelle Zhu2/10/2017 06:04 PM GMT+08  • 1 min read
Bukit Sembawang’s 3Q earnings plunge 78% to $5.4 mil on lower revenue expenses
SINGAPORE (Feb 10): Property developer Bukit Sembawang Estates has announced 3Q17 earnings of $5.4 million, down 78% from $24.3 million a year ago.
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SINGAPORE (Feb 10): Property developer Bukit Sembawang Estates has announced 3Q17 earnings of $5.4 million, down 78% from $24.3 million a year ago.

Revenue for the quarter declined 75.6% to $10.4 million from $42.6 million previously due to lower profit margins in comparison to that of 3Q16.

At the same time, gross profit fell 76.1% to $7.6 million mainly due to lower sales and lower profit recognition on development projects.

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