FY16 earnings for Bukit Sembawang Estates slips 0.8% to $92 mil

SINGAPORE (May 26): Fourth earnings for developer Bukit Sembawang Estates came in 0.1% higher at $6.90 million. This came on the back of a 81.8% fall in revenue to $12.2 million.

Profit margins for projects recognised in 4Q16 -- Luxus Hills Phase 7 and Skyline Residences, based on the percentage of completion method -- were higher compared with margins booked from Luxus Hills Phase 6 and Skyline Residences in 4Q15.

For FY16 ended March, earnings slipped 0.8% to $92 million, or 35.53 cents per share, from a year ago. Revenue fell 26.3% to$282 million.

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