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Heeton posts 83.5% lower 1Q earnings of $1.1 mil on lower other income & share of associates

Michelle Zhu
Michelle Zhu5/13/2019 05:48 PM GMT+08  • 2 min read
Heeton posts 83.5% lower 1Q earnings of $1.1 mil on lower other income & share of associates
SINGAPORE (May 13): Heeton Holdings has announced earnings of $1.1 million for 1Q19, down 83.5% from $6.7 million a year ago, mainly due to other operating income and share of results of associated companies and joint venture companies.
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SINGAPORE (May 13): Heeton Holdings has announced earnings of $1.1 million for 1Q19, down 83.5% from $6.7 million a year ago, mainly due to other operating income and share of results of associated companies and joint venture companies.

Revenue for 1Q fell 6.1% y-o-y to $11 million from $11.8 million previously, mainly due to lower sale revenue from residential project [email protected] Pagar and lower rental revenue post the completion of investment property, The Woodgrove.

In line with the lower revenue recognised, cost of properties sold decreased to $0.9 million from $4.9 million a year ago.

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