Wing Tai profits surge 406% to $9.5m in Q4
Thanks to higher profits from its associates and JVs.
Wing Tai Holdings' (Wing Tai) profits soar from $1.9m to $9.5m, marking a 406% difference, for the final quarter of its fiscal year.
According to its financial statement, this also reflected in the full year results. Profits rose 184% to $20.1m for the full year.
The rise in profits was attributed to higher contributions from its associates and joint ventures (JV).
Share of profits increased 24% to $73.4m for the full year. For Q4, it climbed by 8% to $32.2m.
UOB said a tax credit of $5.3m also improved the bottom line.