Tiong Seng's 1Q earnings up fivefold to $4.9 mil on improved margins

SINGAPORE (May 14): Tiong Seng Holdings reported 1Q18 earnings of $4.9 million, up nearly fivefold from its earnings of $1 million a year ago due to improved profit margins. 

The group posted a 15.3% decline in revenue to $140.8 for the quarter as compared to $166.2 million in the previous year, due to lower revenue both its core construction segment and secondary property segment, where revenue fell 12.3% and 45.2% to $131.8 million and $8.4 million, respectively.