Guocoland Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Half Year Ended December 31, 2015
January 22, 2016 at 05:21 am
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Guocoland limited reported unaudited consolidated earnings results for the second quarter and half year ended December 31, 2015. For the quarter, the company reported revenue of SGD 239,503,000 against SGD 355,692,000 for the same period in the last year. The drop in performance was due to the sale of an office tower in Shanghai Guoson Centre in the previous corresponding quarter. The lower revenue from China was partially offset by revenue recognized from DC Residency in Malaysia as Temporary Occupation Permit for the project was obtained in November 2015. Profit before tax was SGD 44,398,000 against SGD 65,137,000 for the same period in the last year. Profit attributable to equity holders of the company was SGD 39,033,000 against SGD 42,531,000 for the same period in the last year. Cash flows from operating activities were SGD 196,401,000 against SGD 307,607,000 for the same period in the last year. Additions to property, plant and equipment was SGD 10,559,000 against SGD 6,671,000 for the same period in the last year. Earnings per basic and diluted share for the period were 3.29 cents against 3.61 cents for the same period in the last year.
For the half year, the company reported revenue of SGD 679,336,000 against SGD 579,289,000 for the same period in the last year. Profit before tax was SGD 732,144,000 against SGD 103,117,000 for the same period in the last year. This was due to better performance by Singapore and China in the 1 quarter of the financial year as well as revenue recognized from DC Residency in Malaysia in current quarter. Profit attributable to equity holders of the company was SGD 589,491,000 against SGD 69,499,000 for the same period in the last year. Cash flows from operating activities were SGD 562,336,000 against negative cash flows from operating activities of SGD 30,794,000 for the same period in the last year. Additions to property, plant and equipment was SGD 19,790,000 against SGD 9,052,000 for the same period in the last year. Earnings per basic and diluted share for the period were 52.67 cents against 5.82 cents for the same period in the last year.
GuocoLand Limited is a Singapore-based regional property company with operations in the geographical markets of Singapore, China, and Malaysia. The principal activities of the Company and its subsidiaries include property development, property investment, hotel operations, provision of management, property management, marketing, and maintenance services. Its segments include GuocoLand Singapore, GuocoLand China, GuocoLand Malaysia, and Others. Its GuocoLand Singapore, GuocoLand China, and GuocoLand Malaysia segments provide development of residential, commercial and integrated properties, and property investment in Singapore, China, and Malaysia. Its Others segment includes GuocoLand Hotels, which is engaged in the management and operation of hotels in Singapore and Malaysia, and EcoWorld International Berhad (EWI), which is engaged in the investment of property development projects in the United Kingdom and Australia.