In line with the above, gross profit for the year fell 20% to $147.8 million from $183.7 million the previous year.
SINGAPORE (Aug 27): Property group Wing Tai holdings reported FY19 earnings of $46.8 million, down 79% from $225.2 million recorded at the end of FY18.
Group revenue for the year fell 10% to $322.6 million from $360.4 million the preceding year, due primarily to lower contributions from development properties. FY19 revenue was bolstered by the additional units sold in Le Nouvel Ardmore in Singapore and the increase in property sales in Malaysia.
