By Cheryl Tay:
Guocoland Limited posted a 48 percent decline in its full-year net profit to S$63.19 million, from S$122.01 million a year ago.
This is despite a 47 percent year-on-year increase in the company’s net profit to S$62.99 million for the fiscal fourth quarter ended 30 June.
The drop in Guocoland’s full-year profit was attributed to lower fair value gains from investment properties, which amounted to only S$3.9 million for FY2012, a decline from S$58.8 million over the same period last year.
Full-year turnover also dipped one percent to S$678.5 million, on the back of lower revenue from China, although this was offset by better revenue from Singapore residential projects. Full-year earnings per share also slid to 5.69 cents from 11.98 cents previously.
Meanwhile, turnover in Q4 went up to S$319.73 million from a restated S$93.98 million over the same period in 2011, as higher revenue streamed in from Singapore residential projects, as well as the office block at Shanghai Guoson Centre.
In Q4, earnings per share inched up to 5.68 cents from 3.85 cents.
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