Ho Bee Land posts $9.5m net profit, reversing last year's loss

The company credited its return to profitability to a revenue increase.

The company attributed its return to profitability to its improved revenue, which grew 48% YoY to $230m.

In the same period, the company's development property sales more than tripled to $94.7m, driven by higher sales in Australia and Sentosa Cove.

Meanwhile, Ho Bee Land reported a profit attributable to its owners of the company of $8.8m, a turnaround from the loss of $155.7m in H1 2023.

The attributable profit translates to earnings per share of $0.0133.

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