Hong Fok's Attributable Profit Declines in H2 2024; Shares Down 4%

MT Newswires

03-03

Hong Fok's (SGX:H30) attributable profit to owners declined during the second half of 2024 to SG$20.1 million from SG$81.2 million a year earlier, according to a filing with the Singapore Exchange on Friday.

Earnings per share slumped to SG$0.0313 compared with SG$0.1266 in the comparable period.

Revenue declined to SG$59.7 million from SG$59.8 million a year earlier, mainly due to a decrease in revenue from the sale of residential units in Concourse Skyline.

The company recommended a first and final dividend of SG$0.01 per share for the period.

Shares of the property developer were down over 4% in recent trading.

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