Ho Bee Land posts a 32% rise in 3Q earnings to $27 mil on sales from Australia

SINGAPORE (Nov 10): Ho Bee Land reported a 31.8% increase in 3Q16 earnings to $26.7 million from a year ago.

The stronger bottomline was driven by a 44.4% increase in revenue to $47 million due mainly to sales recognition of two residential projects in Melbourne and Gold Coast, Australia.

Share of profits from associates swung back to profitability at $4.6 million compared to a loss of $900,000  year ago, mainly from joint venture projects in Zhuhai and Shanghai, China.

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