Complete Property Market Updates of Singapore

June 27, 2008

Stamford Land FY08 net profit up 28.7%

Filed under: Developer News,Financing,General — Propertymarketupdates @ 2:58 am

Stamford Land Corporation on Thursday unveiled a 28.7 per cent rise in its net profit for the year ended March 31, 2008.

Revenue, however, fell 7.3 per cent to $276.11 million (US$202.52 million) as it has a low inventory of completed residential properties for sale compared with last year.

The hotel segment saw higher revenue due to improved occupancy and room rates. The company also benefited from currency gains.

Its property development & investment segment recorded decrease in revenue in line with fewer units of Stamford Marque remaining for sale (22 units) in the current reporting year.

The company is proposing a final dividend of 1.5 cents a share and a special dividend of 1 cent a share. These are in addition to the interim dividend of 1.5 cents a share paid on March 12, 2008.

A year ago, it paid a first and final dividend of two cents a share and a special dividend of one cent a share.

Source : Business Times – 29 May 2008

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