Wee Hur trebles net profit to $13.1 million

Wee Hur trebles net profit to $13.1 million
Goh Yeow Lian, executive chairman and managing director of Wee Hur Holdings Ltd

SINGAPORE - Construction group Wee Hur Holdings more than trebled its net profit to $13.1 million from $4.1 million for the first nine months.

Get the full story from The Straits Times.

Here is the full statement from Wee Hur Holdings Ltd:

Wee Hur Holdings Ltd, ("Wee Hur" or "the Group") (偉合控股有限公司), a property developer and BCA Grade A1 award winning builder, recorded a surge 220 per cent year-on-year (yoy) in its profit to shareholders to S$13.1 million for its nine months ended 30 September 2013 ("9MFY2013").

The Group's 9MFY2013 revenue improved 34 per cent to S$245.6 million mainly due to the increased contribution from its property development business. Revenue from the Group's fully-sold 65 per cent-owned Parc Centros is gradually being recognized, resulting in the 97 per cent yoy improvement in gross profit to S$31.8 million. The Group's 9MFY2013 profit to shareholder increased correspondingly, surging 220 per cent to S$13.1 million.

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