In 1Q18, profits were recognised for Skyline Residences and Watercove. For 1Q17, profits were recognised for Luxus Hills Phase 6 and 7 and Skyline Residences.
SINGAPORE (Aug 11): Bukit Sembawang Estates reported 1Q18 earnings dropped 78.3% to $5.96 million from $27.5 million a year ago.
For the three months ended June, group revenue fell 64.7% to $15.8 million from $44.9 million a year ago, mainly due to lower sales and lower profit recognition on development projects. Cost of sales also decreased 65.6% to $6.8 million. Correspondingly, gross profit decreased by 64.0% to $9 million.
