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Sing Holdings' 1Q earnings surge to $3.04 mil on higher revenue, lower expenses

Samantha Chiew
Samantha Chiew5/10/2018 07:39 PM GMT+08  • 1 min read
Sing Holdings' 1Q earnings surge to $3.04 mil on higher revenue, lower expenses
SINGAPORE (May 10): Sing Holdings reported first quarter earnings nearly surged fourfold to $3.04 million in 1Q18 from $0.82 million in 1Q17.
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SINGAPORE (May 10): Sing Holdings reported first quarter earnings nearly surged fourfold to $3.04 million in 1Q18 from $0.82 million in 1Q17.

Revenue increased by 20.5% to $16.6 million from $13.8 million a year ago, comprising recognition of sales proceeds from property under development, as well as rental income from lease of an investment property. Revenue from property under development was recognised progressively based on construction progress.

Cost of sales increased 4.2% y-o-y to $10.8 million, bringing 1Q18 gross profit to $5.85 million, 69.0% higher than $3.46 million last year.

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