The land parcel of approximately 135,073.7 sq m was sold at about RMB 202.61 million.
The sale is expected to contribute revenue of approximately RMB 172.2 million with no significant profit contribution to the Company’s financial result for the 4th quarter ended 31 December 2009.
Full announcement here.
Read postings on China New Town by 'keithkeh' and others on our forum here.
EYS' operating cashflow doubled to $8.8 m.
The higher net profit came on the back of a 5% increase in revenue to S$53.1 million for 1Q2010.
Gross profit margin however, dipped about one percent from 54% in 1Q2009 to 53% in 1Q2010, mainly due to product sales mix.
Regardless, operating profit improved 9% to S$5.1 million.
The Group doubled its net cash from operating activities from S$4.5 million in 1Q2009 to S$8.8 million in 1Q2010 attributable to better management of inventories, trade receivables and payables.
Full announcement here.