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Sysma FY17 earnings rise more than fivefold to $8.3 mil despite fall in revenue

Samantha Chiew
Samantha Chiew9/20/2017 5:56 PM GMT+08  • 2 min read
Sysma FY17 earnings rise more than fivefold to $8.3 mil despite fall in revenue
SINGAPORE (Sept 20): Sysma Holdings announced FY17 earnings surged more than fivefold to $8.3 million compared to $1.7 million the previous year on lower cost of sales.
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SINGAPORE (Sept 20): Sysma Holdings announced FY17 earnings surged more than fivefold to $8.3 million compared to $1.7 million the previous year on lower cost of sales.

For the fiscal year ended July, the group reported a 23% drop in FY17 revenue to $97.2 million from $126.2 million in FY16. This was mainly due to lower contribution from the group’s property development projects, including 28 RC Suite, 8M Residence and Charlton 18, aggregating to $32 million in FY17 as the properties have been substantially sold.

However, the decrease in development revenue was offset by an increase in revenue contribution from construction projects including additions and alterations projects aggregating $65.2 million.

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