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TEE Land's 1Q earnings drop 96.3% to $22,000 on higher expenses

Samantha Chiew
Samantha Chiew • 2 min read
TEE Land's 1Q earnings drop 96.3% to $22,000 on higher expenses
SINGAPORE (Oct 11): TEE Land reported earnings for the 1Q18 fell 96.3% to $22,000 compared to $597,000 a year ago.
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SINGAPORE (Oct 11): TEE Land reported earnings for the 1Q18 fell 96.3% to $22,000 compared to $597,000 a year ago.

Revenue for the three month to August almost doubled to $26.0 million in 1Q18 from $13.8 million in 1Q17, due to higher progressive revenue recognised from development projects during the quarter, namely Hilbre 28, 183 Longhaus and Harvey Avenue project.

In line with the revenue growth, cost of sales mroe than doubled to $21.7 million compared to $9.86 million last year.

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