Goodland Group has swung back into the black with earnings of $2.3 million for the 2HFY2021 ended September. This compares to the $884,000 loss in the same period the year before.

The reversal from the loss was thanks to the 87% y-o-y surge in revenue to $23.5 million. This was mainly due to the higher revenue generated from sales of landed terrace houses, as well as progressive revenue recognition from its industrial project, Citrine Foodland.

Cost of sales also grew 88% y-o-y to $20.2 million in line with the revenue increase.

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