Wing Tai Q4 Net Profit Slips 60%

Source : The Business Times, August 26, 2008

Property and retail group Wing Tai Holdings has posted a 60 per cent drop in group net profit for the fourth quarter ended June 30, 2008, to S$96.3 million.

For the full year, net earnings fell 40 per cent to S$229.4 million, with operating profit sliding 51 per cent to S$204.8 million due chiefly to lower earnings from the development properties division.

The group's net gearing ratio has been reduced to 0.40 time as at June 30, 2008, from 0.43 time as at June 30, 2007. Shareholders will receive a 3 Singapore cents per share first-and-final dividend as well as a special dividend of the same quantum. Both payouts are one tier.