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Bukit Sembawang posts 9.4% fall in 1Q earnings to $27.5 mil

Gwyneth Yeo
Gwyneth Yeo8/11/2016 05:29 PM GMT+08  • 1 min read
Bukit Sembawang posts 9.4% fall in 1Q earnings to $27.5 mil
SINGAPORE (Aug 11): Property group Bukit Sembawang Estates posted a 9.4% earnings decline to $27.5 million for 1Q17, compared with earnings of $30.4 million for 1Q16.
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SINGAPORE (Aug 11): Property group Bukit Sembawang Estates posted a 9.4% earnings decline to $27.5 million for 1Q17, compared with earnings of $30.4 million for 1Q16.

For the quarter to June, revenue fell 62% to $44.9 million from a year ago. This came on the back of lower revenue recognition from development projects, based on the percentage of completion.

During the quarter, the group had recognised profits from Luxus Hills Phase 6, Luxus Hills Phase 7 and Skyline Residences.

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