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Thakral reports lower earnings of $2.4 mil for 1HFY20

The Editor
The Editor8/6/2020 06:35 PM GMT+08  • 1 min read
Thakral reports lower earnings of $2.4 mil for 1HFY20
The company plans to pay an interim dividend of one cent per share.
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Property developer and investment firm Thakral has reported earnings of $2.4 million for 1HFY20 ended June 30, down 48% y-o-y. Revenue in the same period was down 15% y-o-y to $43 million, as lockdowns from Covid-19 caused business activities to slow.

The y-o-y drop in bottomline was also because of a one-off gain in the previous period from the sale of a property.

Thakral plans to keep growing its retirement housing business in Australia, on expectations that with an ageing population, demand for such properties will be resilient despite a softer economy.

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