Gross profit for the period increased by 57% y-o-y to $31.8 million mainly due to higher profit recognised on development projects. In 1HFY2024, profits were recognised for The Atelier, LIV@MB and Fraser Residence Orchard, Singapore.
Bukit Sembawang Estates (SGX:B61
) has posted earnings of $25.2 million for its 1HFY2024 ended September, doubling its earnings of $12.6 million recorded in the previous corresponding period.
Revenue for the first half of FY2024 similarly increased by 119% y-o-y to to $264.3 million, while cost of sales increased by 132% to $232.5 million.
