SINGAPORE (Feb 14): KOP Limited is back in the black with $7 million of earnings for 3Q18, compared to its loss of $0.5 million a year ago on a near-tripling of revenue over the period under review.
Revenue was up 179% at $14.8 million from $5.3 million a year ago mainly due to an increase in revenue from the real estate origination and management services segment and hospitality segment – driven by the establishment fee from a joint venture, Shanghai Snow Star Properties, and higher occupancy rate in relation to Montigo Resorts, Nongsa, respectively.
In spite of the higher revenue, cost of sales fell 38% to $1.9 million from $3.1 million a year ago.
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