{"id":106783,"date":"2019-05-02T12:49:01","date_gmt":"2019-05-02T05:49:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/ho-bee-land-profit-down-44-in-q1-2019\/"},"modified":"2019-05-02T13:08:19","modified_gmt":"2019-05-02T06:08:19","slug":"ho-bee-land-profit-down-44-in-q1-2019","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ho-bee-land-profit-down-44-in-q1-2019\/","title":{"rendered":"Ho Bee Land Profit Down 44% In Q1 2019"},"content":{"rendered":"


\nThis comes as share of profits from associates declined 85 percent \u201cdue to lower sales and profit recognition from a residential development project in Shanghai\u201d.
\nHo Bee Land saw its net profit for the first quarter of 2019 drop 44 percent to $27.7 million from $49 million over the same period last year.
\nThis comes as share of profits from associates declined 85 percent \u201cdue to lower sales and profit recognition from the residential development project in Shanghai\u201d.
\nRevenue climbed eight percent to $52.4 million, on the back of strong growth (36 percent) in rental income.
\n\u201cThe increase was due mainly to rental income from Ropemaker Place, a London investment property which was acquired on 15 June 2018,\u201d it said in an SGX filing.
\nWith this, earnings per share for Q1 2019 stood at 4.16 cents.
\nLooking ahead, Ho Bee Land expects the Singapore office market to remain positive amidst tight supply and stable demand, while the residential market will likely remain challenging due to supply glut and the cooling measures.
\n\u201cIn the United Kingdom, the uncertainties surrounding the Brexit outcome will continue to weigh on the economy. However, the long tenancies of the leases for our London properties will buffer us against any short-term negative impact. In the long term, we remain confident of the resilience of the U.K. economy,\u201d it said.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nFiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email\u00a0fiona@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Ho Bee Land Profit Down 44% In Q1 2019<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This comes as share of profits from associates declined 85 percent \u201cdue to lower sales...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-106783","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rMj","jetpack-related-posts":[{"id":46015,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ho-bee-land-net-profit-down-11-in-2016\/","url_meta":{"origin":106783,"position":0},"title":"Ho Bee Land net profit down 11% in 2016","date":"February 28, 2017","format":false,"excerpt":"\r Ho Bee Land continues to foray into overseas markets to enhance its earnings.\u00a0 Property developer Ho Bee Land saw its net profit for the fourth quarter ended 31 December 2016 drop 33.1 percent to $129.5 million. Group turnover increased 19 percent to $42.5 million, while earnings per share dropped\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69546,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-net-profit-soared-to-165-6mil-in-q1\/","url_meta":{"origin":106783,"position":1},"title":"GuocoLand net profit soared to $165.6mil in Q1","date":"October 20, 2017","format":false,"excerpt":"\r GuocoLand saw its first-quarter net profit grow more than six-fold to $165.6 million from $25.6 million over the same period last year. Revenue soared 79 percent to $362 million from $202.8 million, mainly due to higher sales and progressive recognition from its residential projects in Singapore. The group\u2019s share\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106875,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-net-profit-drops-7-4-in-q1-2019\/","url_meta":{"origin":106783,"position":2},"title":"CapitaLand Net Profit Drops 7.4% In Q1 2019","date":"May 6, 2019","format":false,"excerpt":"\r Revenue also declined 23.8 percent to $1.048 billion, mainly due to lower contributions from residential projects.\u00a0 CapitaLand saw its net profit drop 7.4 percent to $295.6 million in the first quarter of 2019, from $319.1 million over the same period last year. The decline was attributed to lower operating\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58072,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/low-keng-huat-net-profit-up-65-in-q1\/","url_meta":{"origin":106783,"position":3},"title":"Low Keng Huat net profit up 65% in Q1","date":"June 16, 2017","format":false,"excerpt":"\r Increase in share of profits from AXA Tower offset by net loss in construction business is one of the main factors attributed to the increase in Low Keng Huat\u2019s Q1 revenue. (Image:\u00a0Perennial Real Estate Holdings Limited) Property firm Low Keng Huat saw its revenue for the first quarter ended\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53169,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-net-profit-fell-44-in-q1\/","url_meta":{"origin":106783,"position":4},"title":"Tuan Sing net profit fell 44% in Q1","date":"April 28, 2017","format":false,"excerpt":"\r Tuan Sing\u2019s gross revenue declined by 29 percent year-on-year to S$74.8 million in the first quarter of 2017, while net profit slumped 44 percent to S$5.4 million as it has sold most of the units at its residential projects completed in 2016, revealed an SGX filing on Thursday, 27\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107209,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/yanlord-land-remains-bullish-despite-dismal-q1-results\/","url_meta":{"origin":106783,"position":5},"title":"Yanlord Land remains bullish despite dismal Q1 results","date":"May 17, 2019","format":false,"excerpt":"\r OCBC Investment Research still expects to see an \u201cimprovement for the rest of the financial year\u201d, despite a fall in gross revenue and profit.\u00a0 Yanlord Land Group had a disappointing start as gross revenue and gross profit fell 49.6 percent and 61.4 percent year-on-year in the first quarter of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/106783"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=106783"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/106783\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=106783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=106783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=106783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}