Eastern Holdings says FY net profit up 89%

Eastern Holdings says FY net profit up 89% 

  

Boutique property developer, Eastern Holdings says its full year net profit surged 89 percent to 15.5 million dollars.

 

Revenue over the same period jumped 19 percent to 57 million dollars.

 

The company attributed the increase to the group’s decision to diversify into the second core business in property development.

 

Barring unforseen circumstances, the group expects to do well in the next 12 months with profits from the sale of properties at MacTaggart Road and Amoy Street.

 

Source: 938Live

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