GuocoLand Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Half Year Ended December 31, 2016
January 20, 2017 at 11:50 pm IST
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GuocoLand Limited reported unaudited consolidated earnings results for the second quarter and half year ended December 31, 2016. For the quarter, the company reported revenue of SGD 231,976,000 against SGD 239,503,000 for the same period in the last year. The revenue dropped mainly due to the fair value gain on foreign exchange hedges in the current quarter. In the previous corresponding quarter, there was a fair value loss on the foreign exchange hedges of SGD 7.1 million, recorded in other expenses. Profit before tax was SGD 83,687,000 against SGD 44,398,000 for the same period in the last year. Profit attributable to equity holders of the company was SGD 57,124,000 against SGD 39,033,000 for the same period in the last year. Net cash used in operating activities were SGD 334,899,000 against net cash flows from operating activities of SGD 196,401,000 for the same period in the last year. Additions to property, plant and equipment was SGD 17,838,000 against SGD 10,559,000 for the same period in the last year. Earnings per basic and diluted share for the period were 5.15 cents against 3.29 cents for the same period in the last year.
For the half year, the company reported revenue of SGD 434,740,000 against SGD 679,336,000 for the same period in the last year. Profit before tax was SGD 115,181,000 against SGD 698,185,000 for the same period in the last year. The lower revenue was mainly due to the absence of contribution from the sale of an office block in Shanghai Guoson Centre in the previous corresponding period. Profit attributable to equity holders of the company was SGD 82,768,000 against SGD 555,532,000 for the same period in the last year. Net cash used in operating activities were SGD 808,473,000 against net cash from operating activities of SGD 562,336,000 for the same period in the last year. Additions to property, plant and equipment was SGD 34,690,000 against SGD 19,790,000 for the same period in the last year. Earnings per basic and diluted share for the period were 7.46 cents against 49.61 cents for the same period in the last year.
GuocoLand Limited is a Singapore-based regional property company with operations in the geographical markets of Singapore, China, and Malaysia. The principal activities of the Company and its subsidiaries include property development, property investment, hotel operations, provision of management, property management, marketing, and maintenance services. Its segments include GuocoLand Singapore, GuocoLand China, GuocoLand Malaysia, and Others. Its GuocoLand Singapore, GuocoLand China, and GuocoLand Malaysia segments provide development of residential, commercial and integrated properties, and property investment in Singapore, China, and Malaysia. Its Others segment includes GuocoLand Hotels, which is engaged in the management and operation of hotels in Singapore and Malaysia, and EcoWorld International Berhad (EWI), which is engaged in the investment of property development projects in the United Kingdom and Australia.