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Stamford Land swings back to profitability in 4Q

Jude Chan
Jude Chan5/25/2017 5:56 PM GMT+08  • 1 min read
Stamford Land swings back to profitability in 4Q
SINGAPORE (May 25): Stamford Land Corporation posted earnings of $8.9 million for the fourth quarter ended March, reversing out of a loss of $5.0 million recorded in the corresponding quarter last year.
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SINGAPORE (May 25): Stamford Land Corporation posted earnings of $8.9 million for the fourth quarter ended March, reversing out of a loss of $5.0 million recorded in the corresponding quarter last year.

Group revenue more than doubled to $166.0 million in 4Q17, from $60.5 million a year ago.

This was largely attributable to a $101.4 million increase in revenue in its property development segment, from sale of apartments in Macquarie Park Village upon completion and settlement of 174 apartments during the quarter.

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