(November 14 13:05) Sbr.com.sg
Submitted By:
Nathanielle Punay
Case Study:
No
Lower GFA delivery dragged it down.
Real-estate developer Yanlord Land Group saw its profit plunge 94% YoY $11.41m (RMB58.8m) in Q3 from $196.48m (RMB1.012b) in 2018, an SGX filing revealed. Its revenue also dropped 49.5% to $559.24m (RMB2.88b) from $1.11b (RMB5.71b) over the same period.
The firm blamed its revenue and profit declines to the decrease in gross floor area delivered to customers, but are said to be partially offset by higher average selling price per sqm.
read more
You can find the original article
here