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Guocoland Suffers 26% Plunge In FY15 Net Profit
Daily Bulletin | 27 August 2015
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Guocoland Limited reported a 25.6 percent drop in net profit to $226.4 million, from $304.2 million on the back of slippages in revenue and other income.

Revenue experienced a dip of 7.3 percent from $1.3 billion last year to $1.2 billion, mainly due to lower revenue recognised for projects in Malaysia. Other income suffered 59.5 percent to $102.4 million due to lower fair value gain for investment properties and a one-off gain from disposal of subsidiaries last year.

Despite a 25.1 percent reduction in finance cost, it was offset by a 36.7 percent rise in administrative expenses to $107.3 million, dragging down the profitability of the group.

GuocoLand  2.290 -- --   
Business: Co is a ppty dvlpr. [FY16 Geography] S'pore (61.5%), China (25.7%), M'sia (12.4%), Vietnam (0.4%).

Insight: Aug-17, FY17 revenue grew 5% mainly due to higher ... Read More


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