Yoma Strategic, the Myanmar-focused business conglomerate, reported earnings more than tripled to $25.2 million in the third quarter ended Dec 31, 2015, from $7.8 million a year ago.
The strong growth in earnings was largely attributed to the fair value gain recorded by its telecom tower business and the strong performance of its non-real-estate segments. This offset the slowdown in real estate sales.
Revenue fell 5% to $23.8 million from $25 million previously, despite its non-real estate businesses recorded a 260% growth in revenue to $13.8 million.
Looking ahead, the diversified entity expects its telecom towers investment to generate "meaningful" earnings each year, while its KFC, New Holland tractor and vehicle leasing businesses are all growing rapidly.
Yoma also expects to see a recovery in the real-estate market over the next few quarters. It is hopeful that the passing of the new Condominium Law last week will drive the availability of mortgages and foreign investment in the real estate market.
Yoma ended higher at 43 cents, up 0.5 cent or 1.2% on Wednesday.
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The strong growth in earnings was largely attributed to the fair value gain recorded by its telecom tower business and the strong performance of its non-real-estate segments. This offset the slowdown in real estate sales.
Revenue fell 5% to $23.8 million from $25 million previously, despite its non-real estate businesses recorded a 260% growth in revenue to $13.8 million.
Looking ahead, the diversified entity expects its telecom towers investment to generate "meaningful" earnings each year, while its KFC, New Holland tractor and vehicle leasing businesses are all growing rapidly.
Yoma also expects to see a recovery in the real-estate market over the next few quarters. It is hopeful that the passing of the new Condominium Law last week will drive the availability of mortgages and foreign investment in the real estate market.
Yoma ended higher at 43 cents, up 0.5 cent or 1.2% on Wednesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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