SINGAPORE: Property developer World Class Global (WCG) reported 1Q19 earnings of $10.2 million for the 1Q19 ended March, close to 30 times higher than the S$0.3 million a year ago.

Earnings per share (EPS) rocketed to 1.11 cents in 1Q19, compared to 0.04 cents in 1Q18.

1Q19 revenue rose 20% to S$96.7 million, from S$80.7 million a year ago.

Revenue for 1Q19 was primarily in relation to the settlements by purchasers of Australia 108, with the balance from settlements by purchasers of AVANT.

Cost of sales increased by 4% to S$71.9 million, from S$69.3 million a year ago, mainly due to the increase in settlements by purchasers of Australia 108 and AVANT.

WCG registered a net foreign exchange gain of S$1.6 million in 1Q19, compared with a net foreign exchange loss of S$3.7 million a year ago.

This was mainly due to the strengthening of the Australian dollar and Malaysia ringgit against...(click on link for full story on theedgesingapore.com)