Thursday, August 14, 2008

Soilbuild Q2 Net Up 3% At $23m

Source : The Business Times, August 14, 2008

Soilbuild Group's second-quarter net profit rose 3 per cent to $23.1 million from a year earlier.

Revenue soared to $88 million, compared to just $16.1 million a year earlier, but expenses and finance costs also rose sharply.

The group said it expects to perform better this year with the progressive recognition of revenue from sold residential property units and the full-year rental contribution from leased business space properties, 'barring unforeseen circumstances'.

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