Hersing's Q2 Net Profit Tumbles 79.5%

Source : The Business Times, August 12, 2008

HERSING Corporation, which owns the ERA real estate marketing franchise here, on Tuesday posted second quarter net profit of S$1.3 million, down 79.5 per cent from the same period last year.

Revenue for the quarter ended June 30, 2008, slid 36.4 per cent to S$38.2 million. For the first six months of this year, Hersing's net earnings fell 73 per cent year on year to S$2.6 million on the back of a 19.9 per cent drop in revenue to S$76.5 million.

Hersing shareholders will not be receiving a dividend for Q2 or H1 2008.