Source : The Business Times, August 29, 2007
SINGAPORE - Property and retail group Wing Tai Holdings on Wednesday said net profit tripled for its financial year ended June 30 due to strong luxury homes sales. The firm said it earned $381.8 million net profit, up from $128 million a year ago.
The company said that it would continue to expand its overseas business, which accounted for about 16 per cent of revenue in the previous financial year.
Related link: http://tinyurl.com/25ystd
Wing Tai's financial statements
Wing Tai, which started off as a Hong Kong clothing manufacturer in the 1950s before branching out into Singapore real estate, competes with other luxury residential developers such as City Developments and Allgreen Properties. -- REUTERS
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