HLH Group’s 3Q earnings plunge 68% to $0.6 mil

SINGAPORE (Nov 7): HLH Group, the owner of cassava plantations and property developer, posted earnings of $0.6 million for 3Q16, 68% down from earnings of $1.9 million the year before.

This was largely attributable to lower other income, which fell 92% to $0.2 million from $2.3 million in 3Q15 due mainly to the revaluation gain on the D'Kranji resort.

Revenue for the quarter grew 34% to $1.9 million from $1.4 million last year due to the increase in co-operation and management agreements income.

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