Developer Allgreen Properties says its full year net profit jumped more than six fold to S$493 million.
Its earnings were boosted mainly by fair value gains on its investment properties. Excluding the fair value gains, net profit would have nearly doubled on year to S$145 million.
Revenue rose 19 percent to S$569 million.
The company benefitted from higher sales of properties as a result of the buoyant market.
On Thursday, Allgreen shares rose 2 cents to S$1.28.
Allgreen is recommending a final dividend 5 cents a share. - CNA/ch
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