Hotel contributions also rose by 19.7%, lifted by contributions from the Mercure and Ibis Styles Grosvenor Hotel in Adelaide, which the group acquired in March last year.
SINGAPORE (May 7): Property group Chip Eng Seng reported 1Q earnings of $11.3 million or 1.8 cents, 84.6% higher compared to $6.12 million, or 0.99 cents, a year ago due to higher sales.
Revenue rose 34.2% y-o-y to $267.3 million as property development segment grew 48.9%, driven by the Grandeur Park Residences and Park Colonial private-home projects here.
