NET profit for GSH Corporation dived 70.3 per cent to S$329,000 for the first quarter ended March 31, down from S$1.1 million a year ago, the property developer reported in a Singapore Exchange filing on Monday.
The decline came on the back of higher cost of sales, up 17.6 per cent year-on-year, as well as higher finance expenses, which rose 28.2 per cent or S$1.2 million to S$5.5 million. Revenue rose 7.6 per cent to S$26.2 million, while earnings per share dived to 0.017 Singapore cent from 0.057 cent a year ago.