Ho Bee's revenue up, but net profit misses

By Romesh Navaratnarajah: Singapore-listed Ho Bee Investment posted a 5.6 percent growth in its Q3 revenue to S$59.1 million on the back of higher contributions from its projects. At the same time, the group's profit share from jointly controlled entities rose more than two-fold to S$20.2 million from S$7.6 million last year, The Business Times reported.

However, net profit declined 3.5 percent to S$31.5 million compared to the same period last year.

Last month, Ho Bee announced the sale of Hotel Windsor (pictured) at MacPherson Road for S$163 million. The deal is expected to result in a gain of around S$121 million based on the original purchase price of S$42 million. 

Of this S$121 million gain, S$94.7 million has been accounted as revaluation reserve as at end-September 2012. The remaining S$25.9 million will be recognised as profit upon completion of the sale in May 2013, the company said.  Related Stories: Giant pandas inspire charity drive

Roxy-Pacific posts Q3 profit growth

Daewoo E&C is back to build The Scotts Tower

More from PropertyGuru:
Giant pandas inspire charity drive
Roxy-Pacific posts Q3 profit growth
Daewoo E&C is back to build The Scotts Tower
CapitaLand enters into agreement with China's banks

--

Did you know that you can get stories like this on the Yahoo mail app?
Download it here.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3473+0.0015+0.11%
    USDSGD=X
    1.5023-0.0098-0.65%
    EURSGD=X
    2.1184+0.0006+0.03%
    GBPSGD=X
    90.6245-0.4511-0.50%
    SGDJPY=X
    5.7538-0.0069-0.12%
    SGDHKD=X
    2.7998-0.0039-0.14%
    SGDMYR=X
    9,906.5605-7.9941-0.08%
    SGDIDR=X
    4.6005-0.0138-0.30%
    SGDCNY=X
    1.0385+0.0053+0.51%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,174.10-4.90-0.42%
    GCQ15.CMX
    15.69+0.01+0.03%
    SIU15.CMX
    63.80-0.11-0.18%
    ^XAU
    2.62-0.01-0.53%
    HGU15.CMX
    58.94+0.61+1.05%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.61-0.01
    ^FVX
    2.32-0.02
    ^TNX
    3.08-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.76+0.04+5.56%
    N21.SI
    0.295-0.005-1.67%
    5WA.SI
    0.195+0.004+2.09%
    5GB.SI
    4.21+0.08+1.94%
    Z74.SI
    0.895-0.005-0.56%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.21+0.04+27.27%
    5OY.SI
    0.355+0.050+16.39%
    UQ4.SI
    0.30+0.04+15.38%
    Y06.SI
    0.38+0.04+13.43%
    508.SI
    0.55+0.06+12.24%
    AWK.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.19-0.05-20.83%
    40U.SI
    0.24-0.05-17.24%
    MR8.SI
    0.11-0.02-15.38%
    RS1.SI
    0.129-0.020-13.42%
    5MD.SI
    0.98-0.14-12.50%
    5CP.SI