Wheelock’s 2Q earnings doubled to $35 mil on higher revenue

SINGAPORE (Aug 11): Property developer Wheelock Properties saw 2Q earnings double to $35.3 million from $17.7 million last year on higher sales.

Revenue grew nearly three-fold at 275.5% to $300.9 million from $80 million in 2Q15, mainly due to the unit sales contributions from condominiums Ardmore Three and The Panorama.

Since Ardmore Three’s relaunch on April 14 this year, 42 units have been sold at an average price of above $2,800 psf.

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