Ho Bee Land's earnings dipped 32.1% to $193.7 million in the fourth quarter ended Dec 31, 2015, from $285.2 million a year ago.
The reduced bottomline was due to a lower gain in fair value of investment properties totaling $186.4 million versus $281.7 million a year earlier.
Revenue tumbled 28.5% to $222.6 million from $311.1 million previously, mainly due to stronger recurring income from the property developer's portfolio of commercial properties in Singapore and London.
Ho Bee proposes a first and final dividend of 5 cents per share and a special dividend of 2 cents per share.
The group foresees a more challenging year ahead, but says it will have "substantial" recurring income from its commercial properties to face the headwinds.
In FY2016, it expects profit contribution from the completion of development projects in Australia and China.
Shares of Ho Bee ended flat yesterday at $1.90.
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The reduced bottomline was due to a lower gain in fair value of investment properties totaling $186.4 million versus $281.7 million a year earlier.
Revenue tumbled 28.5% to $222.6 million from $311.1 million previously, mainly due to stronger recurring income from the property developer's portfolio of commercial properties in Singapore and London.
Ho Bee proposes a first and final dividend of 5 cents per share and a special dividend of 2 cents per share.
The group foresees a more challenging year ahead, but says it will have "substantial" recurring income from its commercial properties to face the headwinds.
In FY2016, it expects profit contribution from the completion of development projects in Australia and China.
Shares of Ho Bee ended flat yesterday at $1.90.
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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