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Low Keng Huat posts 60% drop in 3Q earnings to $2.6 mil

Stanislaus Jude Chan
Stanislaus Jude Chan12/9/2018 02:29 PM GMT+08  • 2 min read
Low Keng Huat posts 60% drop in 3Q earnings to $2.6 mil
SINGAPORE (Dec 9): Property developer Low Keng Huat (Singapore) saw its earnings fall 60% to $2.6 million for the 3Q18 ended October, from $6.6 million a year ago.
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SINGAPORE (Dec 9): Property developer Low Keng Huat (Singapore) saw its earnings fall 60% to $2.6 million for the 3Q18 ended October, from $6.6 million a year ago.

The decline was on the back of lower revenue during the quarter. 3Q18 revenue fell 31% to $9.2 million, from $13.5 million a year ago.

However, 9M18 revenue soared to $162.5 million, from $44.1 million a year ago. The increase was mainly due to increased sales in the Development segment, with Kismis Residences & Tranquilia @ Kismis fully sold in 9M18.

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