Property developer Ho Bee Investment has posted net earnings of $99.3 million for the third quarter ended Sept 30, 2009, up from $18.7 million net earnings in the same period last year.
Revenue rose from $52.5 million to $209.2 million.
For the first nine months of 2009, Ho Bee’s net earnings soared to $293.9 million from $81.8 million in the same year-ago period on the back of a quadrupling in revenue, from $263.5 million to $1.06 billion.
‘The financial result for the next quarter of this year is expected to remain positive,’ the group said in its results statement released during the mid-day stockmarket trading break.
Source: Business Times, 12 Nov 2009
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