Wing Tai Holdings' profits surged 79% to 32.82m in H1

Contributions from Le Nouvel Ardmore added to the group’s $18m operating profit.

Wing Tai Holdings' profit attributable to its equity holders surged 79% YoY to $32.82m in H1 2019-20, the company announced. Over the same period, revenue declined 5% to $183.5m.

In Q2, revenue fell 10% YoY to $104.19m, whilst profit soared 61% to $25.97m.

The selling of additional units in Le Nouvel Ardmore in Singapore was attributed to the group’s revenue, whilst its contributions added to the group’s operating profit, which hit $18m.

Further, the share of profits from its associated and joint venture companies rose 12% to $35.8m in the first half of the year, largely due to the higher contribution from The Crest in Singapore and the additional units sold in Malaren Gardens in Shanghai.

The group’s net asset value per share as at 31 December 2019 hit $4.17, compared to $4.19 as at 30 June 2019. At the same time, its net gearing ratio was 0.13 times as compared to 0.12 times.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia