Sim Lian Group profit up 13% to over S$230m
Strong financial performance resulted from several development projects which were completed in FY2012.
Sim Lian Group Limited recorded profit after income tax of S$ 230.6 million in FY2012, an increase of 13% year-on-year compared to profit after income tax of S$ 203.3 million in FY2011.
Gross revenue in FY2012 was S$764.3 million, or 3% higher compared to gross revenue of S$744.7 million in FY2011.
The 13% increase in profit is mainly attributed to an increase in revenue, a reduction in contract costs, and greater contribution from joint venture projects.