Yeo Hiap Seng 1Q earnings up more than sevenfold to S$10.2 mil on property disposal

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SINGAPORE (April 26): Yeo Hiap Seng reported 1Q earnings surged more than sevenfold to S$10.2 million, from S$1.4 million a year ago, on one-off gains.

This follows the disposal of a US property after the F&B manufacturer conducted a rationalisation exercise of its property portfolio by to reduce its operating costs base.

Accordingly, this contributed to higher gain on disposal of property, plant and equipment in other gains of S$13.7 million, compared to a loss of S$2.4 million a year ago, alongside higher fair value gains on...(click on link for full story on