Home Capital Results

GuocoLand posts 95% fall in 1Q earnings to $25.6 mil

PC Lee
PC Lee10/24/2016 07:59 PM GMT+08  • 1 min read
GuocoLand posts 95% fall in 1Q earnings to $25.6 mil
SINGAPORE (Oct 24): Developer GuocoLand saw 1Q earnings fall 95% to $25.6 million from $516.5 million a year ago on lower revenue and absence of one-off gain.
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 (Oct 24): Developer GuocoLand saw 1Q earnings fall 95% to $25.6 million from $516.5 million a year ago on lower revenue and absence of one-off gain.

Revenue fell 54% to $202.8 million. The lower revenue was mainly due to the absence of contribution from the sale of an office block in Shanghai Guoson Centre in the previous corresponding quarter. Gross profit declined by 70% due to the fall in revenue and lower gross margin arising from change in sales mix in the two periods of review.

Meanwhile, other income in current quarter decreased by 98% to $12.4 million due to a one-time gain from the disposal of subsidiaries relating to the Dongzhimen project in the same quarter a year ago.

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.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now