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Hatten Land's 2Q earnings halve to $3.6 mil on lower revenue & higher expenses

Michelle Zhu
Michelle Zhu2/12/2018 07:48 AM GMT+08  • 2 min read
Hatten Land's 2Q earnings halve to $3.6 mil on lower revenue & higher expenses
SINGAPORE (Feb 12): Hatten Land has posted earnings of RM10.8 million ($3.6 million) for 2Q18, down by 50% from its earnings of RM21.1 million a year ago on lower revenue and higher expenses.
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SINGAPORE (Feb 12): Hatten Land has posted earnings of RM10.8 million ($3.6 million) for 2Q18, down by 50% from its earnings of RM21.1 million a year ago on lower revenue and higher expenses.

Revenue for the quarter ended Dec 2017 more than halved to RM43.4 million from RM113.8 million a year ago, mainly due to lower revenue recognised for the Hatten City Phase 2 project as a lower percentage of works was completed during the period.

This was offset in part by the higher revenue contributions from the Harbour City and Hatten City Phase 1 projects, which achieved project completion in FY2016.

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