Bukit Sembawang profit up 13% to $51.4m in H2

However, revenue for the period fell 24%.

Bukit Sembawang Estates reported a net profit of $51.4m for the second half of its financial year ended 31 March, up 13% from $45.6m a year ago.

The increase was driven by higher profit recognition from residential projects Pollen Collection, Liv@MB, and Fraser Residence Orchard.

Meanwhile, revenue for the period fell 24% to $225.9m from $297.7m, due to the absence of contributions from The Atelier, which had its revenue fully recognised in the previous period.

The company’s cost of sales also dropped 34% to $166.5m. Gross profit rose 32% to $59.4m.

Earnings per share increased to $0.1984 from $0.1762.

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