WEE HUR Holdings Ltd, an award-winning BCA Grade A1 builder and property developer, posted a two-fold jump in its net profit to S$13.2 million for the nine months ended 30 September 2009, exceeding that of the entire FY2008 (S$8.0 million) by 64%.
This increase in net profit came about on the back of an expansion in revenue by 81% to S$161.0 million which is generated by a number of major projects with substantially higher contract value currently in their more matured or completed stage of work in progress.
Mr Goh Yeow Lian, Executive Chairman, commented, “We are pleased to maintain our sterling performance through the third quarter of this financial year and remain upbeat about returning with good results in the fourth quarter. We have strengthened ourselves further with bigger retained earnings and have positioned ourselves well to expand our business further.”
Full press release here.
For our story on Mr Goh and Wee Hur through the years, click here.
Mr. Mark Wakeford, CEO and Executive Director of INDO-AGRI RESOURCES, commented, “We are pleased to announce that our 3Q09 attributable profit was 8.2% higher than 3Q08. CPO prices (Rotterdam CIF) have recovered from the lows of US$512 a tonne in 4Q08 to US$680 in 3Q09.
" Our CPO production grew 6% in 3Q09 and 4% in 9M09 to 199,000 tonnes and 538,900 tonnes respectively on higher production in South Sumatra and Kalimantan”.
The Group recorded attributable profit of Rp316 billion (S$43 million) in 3Q09, up 8.2% from 3Q08 after taking into account a lower effective tax arising from a reduced corporate tax rate and the non-taxability of net gains on foreign currency.
The Group’s 9M09 attributed profit was Rp1.2 trillion (S$169 million), a decline of 19.5% compared to 9M08.
Full announcement here.