Guocoland

Guocoland: 2QFY14 net profit inched up 3% to $12.9m, despite revenue being up 8% to $254.3m, as gross margins dipped 5.5 ppt to 19.4%. Bottom-line was partly aided by other income which more than quadrupled to $14.2m, led by FX gains and a buyer’s deposit which was forfeited, while the group’s higher top-line was mainly due to progressive recognition of its Singapore residential projects and profit recognition of its Seasons Park units in Tianjin, China.