Fourth-quarter earnings per share was 1.55 Singapore cents, up from 0.36 cent in the same period a year earlier.Full-year net profit rose 42 per cent to S$30.3 million on the back of a 234 per cent surge in revenue, driven by revenue recognition from the property development segment.
However, gross profit margin fell from 38 per cent in 2018 to 24 per cent, due to higher contribution from property development which has a lower profit margin. A final dividend of 1.09 cents per share has been proposed, to be paid on Apr 30. This is higher than the final dividend of 0.705 cent declared last year. Together with the interim dividend of 0.195 cent per share, total dividends for 2019 will be 1.285 cents per share, up from 0.90 cent per share in 2018.
Net asset value per share was 39.16 cents as at Dec 31, 2019. Net gearing stood at 0.58 times, the group said. Based on units sold from its ongoing development projects, the group has total attributable pre-sale revenue of S$471.2 million, the profits of which will be recognised from the first quarter of 2020 through to 2023, it added.
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