SINGAPORE (Nov 8): Yoma Strategic Holdings reported 2Q19 earnings of $26.2 million, up sevenfold from $3.7 million a year ago as revenue as investment properties saw a fair value gain.

Revenue for 2Q19 increased 26.5% year-on-year to $41.9 million lifted by the robust performance of the Yoma Land, Yoma F&B and Yoma Financial Services businesses, which helped offset a slower performance in the Yoma Motors business.

Revenue from the group’s Real Estate Development business more than doubled year-on-year to $22.6 million in 2Q19. The increase was mainly driven by new sales of apartments in StarCity Galaxy Tower 2 and Tower 4, which are nearly completed as well as the residual revenue recognition from previously sold units in Pun Hlaing Estate, StarCity Zone C and Yoma Central.

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