SINGAPORE (May 25): Stamford Land Corporation saw its earnings nearly treble to $25.6 million for the 4Q ended March, from $8.9 million a year ago.
This brings full-year earnings up 63.2% to $56.4 million for FY18, compared to $34.6 million a year ago.
4Q revenue rose 14.3% to $189.7 million, from $166.0 million a year ago.
This was led by higher revenue from its property development arm, which grew 21.8% to $138.8 million in 4Q18 due to the increased number of units settled in Macquarie Park Village.
As at end March, cash and cash equivalents stood at $154.5 million.
Stamford Land has proposed a final dividend of 1.0 cent per share for the period, unchanged from the final dividend paid out a year ago.
Looking ahead, the group says it expects to be profitable in FY19, barring any unforeseen circumstances.
Shares of Stamford Land closed flat at 49.5 cents on Friday.
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