Residential property developer SC Global Developments has posted a 75 percent increase in its net profit to S$31.8 million in Q3 2011.
This translates to earnings per share of 7.73 cents, from 4.56 cents over the same period last year.
The group’s Q3 2011 revenue rose to S$197.4 million, up 43 percent from S$138 million, on the back of strong contributions from its Singapore projects, which include Martin No 38 and Seven Palms, Sentosa Cove.
SC Global also posted stronger gross margins of 32 percent in Q3 2011, slightly higher than last year’s 31 percent.
For the first nine months of 2011, SC Global recorded a 25 percent increase in revenue from S$542.6 million last year to S$680.4 million.
The group’s net profit also rose 217 percent year-on-year to S$150.85 million from S$47.6 million.
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