Guocoland’s earnings jump 46% from share of associates’ profits

SINGAPORE (Jan 20): Guocoland reported earnings of $57.1 million for 2QFY17, a 46% improvement from the earnings of $39 million in 2QFY16.

During the quarter to December, revenue fell 3% to $232 million. Gross profit fell 22% to $47.4 million on the back of a change in sales mix.

For the half year period, revenue fell 36% to $434.7 million because of the sale of an office block in Shanghai Guoson Centre in 1HFY16 that was not repeated in the current period. Earnings fell 85% to $82.8 million.

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