Cost of sales halved from the previous year to $39.3 million, bringing 1Q18 gross profit to $16.7 million, 9.7% higher than $15.2 million a year ago.
SINGAPORE (May 14): Wheelock Properties announced 1Q18 earnings increased more than threefold to $30.8 million, compared to $9.19 million in 1Q17 on higher share of profit of associates.
Revenue for the quarter saw a 40.3% dip to $56.0 million from $93.7 million last year, as The Panorama and Ardmore Three have been completely sold last year, as well as lower interest income from the group’s investment in quoted securities.
