GuocoLand's 2Q earnings treble to S$32.4m as revenue doubles on higher sales activities

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SINGAPORE (Jan 16): Property developer GuocoLand Ltd reported earnings of S$32.4 million for 2Q20 ended December, nearly three times its earnings of S$10.9 million a year ago.

This brings the group’s half year earnings to S$74.5 million, double that of S$37 million for the corresponding period in the previous year.

Revenue for the quarter saw a 110% surge to S$299.6 million from S$142.9 million in the preceding year. This was attributable mainly to higher progressive recognition of sales from the group’s residential development Martin Modern.

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