Gross profit for the period decreased by 54% y-o-y to $30 million mainly due to lower profit recognised on development projects. In 2HFY2023, profits were recognised for Nim Collection Phase 2, The Atelier and LIV@MB.
Bukit Sembawang Estates (SGX:B61
) has posted earnings of $21.8 million for its 2HFY2023 ended March, 26% lower from the $29.6 million recorded in the previous corresponding period.
Revenue decreased by 15% y-o-y to $76.5 million, while cost of sales increased by 5% to $62.6 million.
