Home Capital Results

Bukit Sembawang reports 21% fall in FY17 earnings to $72.5 mil on lower revenue recognition

PC Lee
PC Lee5/26/2017 5:29 PM GMT+08  • 1 min read
Bukit Sembawang reports 21% fall in FY17 earnings to $72.5 mil on lower revenue recognition
SINGAPORE (May 26): Developer Bukit Sembawang Estates reported a 21.2% fall in FY17 earnings to $72.5 million from a year ago.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (May 26): Developer Bukit Sembawang Estates reported a 21.2% fall in FY17 earnings to $72.5 million from a year ago.

Revenue decreased by 49.2% to $143.4 million due to recognition of profits from fewer projects including Luxus Hills Phase 6 and 7 and Skyline Residences compared to a year ago when there was additional revenue recognition from the penthouse at Paterson Suites and The Vermont on Cairnhill. In line with lower revenue, costs of sales also fell 68.4% to $53.8 million.

Gross profit decreased by 20% to $89.6 million while other operating expenses widened 81.4% to $11.3 million.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.