However, the decrease in development revenue was offset by an increase in revenue contribution from construction projects including additions and alterations projects aggregating $65.2 million.
SINGAPORE (Sept 20): Sysma Holdings announced FY17 earnings surged more than fivefold to $8.3 million compared to $1.7 million the previous year on lower cost of sales.
For the fiscal year ended July, the group reported a 23% drop in FY17 revenue to $97.2 million from $126.2 million in FY16. This was mainly due to lower contribution from the group’s property development projects, including 28 RC Suite, 8M Residence and Charlton 18, aggregating to $32 million in FY17 as the properties have been substantially sold.
