SINGAPORE (May 26): Stamford Land announced that its FY20 earnings have dropped by 47.7% to $25.0 million from $47.7 million in FY19.

This came on the back of a 35.9% fall in revenue to $195.1 million from $304.2 million a year ago, mainly due to lower contribution from the group’s hotel owning and management, property development and trading business segments.

This was partially offset by a significant increase in the company’s property investment business segment, which saw revenue more than double to $29.5 million from $14.6 million a year ago. Other revenue also increased by 2.4% y-o-y to $0.6 million.

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