News Formal

Tuan Sing Q1 earnings slump 98% on lower operating income, higher costs

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Tuan Sing Q1 earnings slump 98% on lower operating income, higher costs.

PROPERTY developer Tuan Sing Holdings on Friday posted a 98 per cent slump in earnings to S$157,000 for its first quarter ended March 31 from S$8.2 million a year ago.

Revenue rose 1 per cent to S$77.5 million for the quarter, due mainly to higher revenue from its property segment, partially offset by lower revenue from its hotels investment and industrial services segments. The drop in earnings was partly due to lower operating income on the back of the absence of a S$3.9 million gain from the divestment of a China subsidiary in 2018.

This was aggravated by lower share of results of equity accounted investments due to lower contribution from the group's associate which recorded lower revenue and higher foreign exchange losses arising from the weakening of the US dollar against the renminbi, as well as higher finance costs due mainly to interest expenses for 18 Robinson and higher interest rates on borrowings for other investment properties over the course of the year.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 15. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

New stores, higher sales boost Sheng Siong's Q1 earningsSHENG Siong Group on Friday posted a 5.9 per cent rise in net profit to S$19.4 million for its first quarter ended March 31, as revenue increased 10.1 per cent to S$251.4 million. Read more at The Business Times.
Källa: BusinessTimes - 🏆 15. / 51 Läs mer »

Tokyo: Stocks open higher with eyes on earnings[TOKYO] Tokyo stocks opened higher on Wednesday supported by record levels in New York but investors remained cautious amid corporate earnings season and ahead of an unprecedented 10 days of holidays next week. Read more at The Business Times.
Källa: BusinessTimes - 🏆 15. / 51 Läs mer »

Weak industrial earnings drag Wall Street lowerDow and S&P futures were pressured by a steep fall in industrial company 3M's shares on Thursday, while upbeat results from high-flying companies ...
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »