The fall in real estate sales was mainly due to the group changing its sales strategy for StarCity, following its recent buyback of the development, and by continuing its sales strategy of only launching and selling near-completed units in Pun Hlaing Estate, also in Myanmar.
SINGAPORE (May 31): Yoma Strategic on Wednesday announced that its 4Q18 earnings have fallen by 86% to $3.5 million from $24.1 million in 4Q17. This brings FY18 earnings to $26.6 million, 25.7% lower than the previous year.
Revenue for the quarter saw a 48.2% y-o-y drop to $25.1 million, impacted by reduced income generated from the sale of residences and land development rights (LDRs), which fell the most in the company's breakdown of revenue.
