Evergro Properties net profit for the full year ended Dec 31 surged 178 per cent to $545,000, thanks largely to higher interest income and a turnaround in its associate companies.
Its revenue for the year grew 9.8 per cent to $43.63 million and narrowed its operating loss to $586,000 from $3.65 million a year ago.
Excluding exceptional items and tax, the group recorded a profit of $1.45 million, compared to a loss of $3.85 million.
'The next two quarters will be trying time for all businesses and we do not expect our sales to improve,' Evergro said in its financial statement on Monday.
Source : Business Times
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