Post by candy188 on Oct 28, 2013 16:29:28 GMT 7
Wing Tai 1Q14 Performance In Line With Company’s Expectations
Wing Tai Holdings reported its results for 1Q14 last Friday (25 October 2013) after trading hours.
Revenue came in at $222.8 million, a decrease of 9.8 percent from $247.1 million on a year-on-year basis. Operating profit also slipped from $65.1 million (1Q13) to $43.2 million (1Q14) as a result of lesser contributions from development properties.
The company’s net profit attributable to shareholders fell $47.6 million to $24.5 million, amounting to a 66 percent reduction compared to the same period last year. The reduction in net profit attributable to shareholders was contributed significantly from one-off gains on the disposal of an apparel brand business in Hong Kong as well as office units in Singapore amounting to $64.6 million recorded in 1Q13.
Significance: Wing Tai’s turnover from the sale of residential units in Singapore accounts for more than 50 percent of its FY13 turnover. Consequently, in view of the adverse climate in the current real estate sector and Monetary Authority of Singapore’s commitments to cool off any further price increase in Singapore’s residential properties, the company is expected to report rocky performance ahead.
sg.finance.yahoo.com/news/stocks-focus-sg-boustead-fraser-061221100.html
Wing Tai Holdings reported its results for 1Q14 last Friday (25 October 2013) after trading hours.
Revenue came in at $222.8 million, a decrease of 9.8 percent from $247.1 million on a year-on-year basis. Operating profit also slipped from $65.1 million (1Q13) to $43.2 million (1Q14) as a result of lesser contributions from development properties.
The company’s net profit attributable to shareholders fell $47.6 million to $24.5 million, amounting to a 66 percent reduction compared to the same period last year. The reduction in net profit attributable to shareholders was contributed significantly from one-off gains on the disposal of an apparel brand business in Hong Kong as well as office units in Singapore amounting to $64.6 million recorded in 1Q13.
Significance: Wing Tai’s turnover from the sale of residential units in Singapore accounts for more than 50 percent of its FY13 turnover. Consequently, in view of the adverse climate in the current real estate sector and Monetary Authority of Singapore’s commitments to cool off any further price increase in Singapore’s residential properties, the company is expected to report rocky performance ahead.
sg.finance.yahoo.com/news/stocks-focus-sg-boustead-fraser-061221100.html
: Hope UE will perform even better tomorrow 
