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Wing Tai's FY18 earnings surge 11-fold to $218.8 mil on higher property-related gains

Michelle Zhu
Michelle Zhu8/28/2018 11:19 PM GMT+08  • 2 min read
Wing Tai's FY18 earnings surge 11-fold to $218.8 mil on higher property-related gains
SINGAPORE (Aug 28): Wing Tai Holdings announced earnings of $218.8 million for FY18, up nearly 11-fold from its full year earnings of $20.1 million a year ago, due to higher revenue as well as increased share of profits of associated and joint venture (JV
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SINGAPORE (Aug 28): Wing Tai Holdings announced earnings of $218.8 million for FY18, up nearly 11-fold from its full year earnings of $20.1 million a year ago, due to higher revenue as well as increased share of profits of associated and joint venture (JV) companies.

For the 4Q ended June, the group announced earnings of $129.8 million compared to $9.5 million a year ago.

Revenue for the full year grew 42% to $373.2 million due to higher contributions from development properties, driven mainly by the sale of additional units sold in Le Nouvel Ardmore in Singapore along with contributions from BM Mahkota in Penang, which obtained its Temporary Occupation Permit (TOP) in the financial year under review.

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