Chip Eng Seng’s 2Q earnings down 33% on higher tax expenses

SINGAPORE (Aug 8): Chip Eng Seng Corporation saw a 33.3% decline in 2Q16 earnings to $14.3 million from a year ago, hit by higher tax expenses.

For the half year, earnings fell 62% to $15.2 million, as revenue fell 4.9% to $346.2 million.

In the quarter to June, revenue rose 18.9% to $234.3 million, on the back of higher revenue contributions from its property development and hospitality segments.

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