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TEE Land 2Q earnings falls 54% to $0.7 mil

Jude Chan
Jude Chan1/11/2017 06:55 PM GMT+08  • 2 min read
TEE Land 2Q earnings falls 54% to $0.7 mil
SINGAPORE (Jan 11): TEE Land posted earnings of $690,000 in 2Q17, falling 54.1% from earnings of $1.5 million a year ago.
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SINGAPORE (Jan 11): TEE Land posted earnings of $690,000 in 2Q17, falling 54.1% from earnings of $1.5 million a year ago.

This is despite a 144.1% increase in revenue to $24.0 million in the second quarter ended Nov 30, compared to revenue of $9.8 million in 2Q16.

The higher revenue was mainly attributed to higher progressive revenue recognised for development projects, particularly Third Avenue in Malaysia and TEE Land’s new project, Hilbre 28.

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