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Real estate and property developer Hong Lai Huat has reported a turnaround to profitability with earnings of $3.2 million for its FY2021 ended December 2021, compared to a full year loss of $8.5 million in FY2020.Revenue for FY2021 more than doubled from a year ago, rising from $7.2 million to $16.7 mThe boost in earnings were attributed to the contributions from development properties, says Ho Bee Land.
Ho Bee Land has reported earnings of $225.0 million in the 2HFY2021 ended December, some 4.8 times higher than earnings of $46.5 million in the corresponding period the year before.See also: Hong Lai Huat back in black for FY2021 with $3.2 mil profitThe half-year period’s figures have boosted the developer’s FY2021 earnings to $330.5 million, 141%