{"id":118415,"date":"2020-08-26T10:23:09","date_gmt":"2020-08-26T03:23:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocolands-profit-attributable-to-equity-holders-drop-55-in-fy2020\/"},"modified":"2020-09-01T01:03:10","modified_gmt":"2020-08-31T18:03:10","slug":"guocolands-profit-attributable-to-equity-holders-drop-55-in-fy2020","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocolands-profit-attributable-to-equity-holders-drop-55-in-fy2020\/","title":{"rendered":"GuocoLand\u2019s profit attributable to equity holders drop 55% in FY2020"},"content":{"rendered":"


\nProfit attributable to equity holders fell to $114.1 million from $255.7 million a year ago.\u00a0
\nGuocoLand\u2019s profit attributable to equity holders for the full year ended 30 June 2020 declined 55% year-on-year to $114.1 million from $255.7 million previously, said the group in a release.
\nRevenue, however, climbed 2% year-on-year to $941.8 million in FY2020.
\nThe hike comes as revenue from property development business increased, but was offset by a drop in revenue from its hotel business as the COVID-19 pandemic affected demand for travel and hotel accommodation.
\nThe group also revealed that it has achieved healthy residential sales in Singapore during the financial year, despite the challenging market environment during the second half of FY2020.
\n\u201cIn Singapore, 86% of Martin Modern and approximately 20% of the units at Meyer Mansion and Midtown Bay have been sold as at 30 June 2020. Wallich Residence is 54% sold and continues to register sales with prices remaining firm,\u201d it said.
\nSuggested read:\u00a0Guocoland\u2019s Midtown Bay condo: 5 key points of interest
\nIt noted that the COVID-19 pandemic affected the construction progress at the group\u2019s development projects in 2H FY2020.
\nAnd while construction works at the group\u2019s ongoing development projects in China, Malaysia and Singapore have since resumed, it expects to see construction delays as well as increased construction costs \u201cdue to supply chain disruptions and compliance with stricter requirements for worksites and workers\u201d.
\nGuocoLand\u2019s financial position remained healthy as at 30 June 2020, with net debt at $4.3 billion and gearing of 1.0 time.
\nTotal loans and borrowings rose 17.3% from a year ago primarily due to the funding of new land acquisitions.
\nEquity attributable to ordinary equity holders marginally increased to $3.85 billion as at 30 June 2020 from $3.83 billion a year ago. The group said the increase was partially offset by the $77.7 million dividend payment in November 2019.
\nWith this, the Board of Directors recommended \u201ca first and final one-tier exempt ordinary dividend of six cents per share for FY2020\u201d.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…GuocoLand\u2019s profit attributable to equity holders drop 55% in FY2020<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Profit attributable to equity holders fell to $114.1 million from $255.7 million a year ago.\u00a0...<\/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-118415","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-uNV","jetpack-related-posts":[{"id":120036,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chip-eng-seng-warns-of-a-net-loss-for-fy2020-due-to-covid-19\/","url_meta":{"origin":118415,"position":0},"title":"Chip Eng Seng warns of a net loss for FY2020 due to COVID-19","date":"January 11, 2021","format":false,"excerpt":"\r Chip Eng Seng warns of a net loss for FY2020 due to COVID-19Closure of construction sites for several months in FY2020 have expectedly impacted the\u00a0on-going developments\u2019\u00a0construction milestones, and in turn\u00a0affected revenue recognition as well as progressive payments from property buyers. Chip Eng Seng expects to report a net loss\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/Construction-of-skyscrapers-in-Singapore.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":78747,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-q2-revenue-grows-60\/","url_meta":{"origin":118415,"position":1},"title":"GuocoLand Q2 revenue grows 60%","date":"February 2, 2018","format":false,"excerpt":"\r The strong financial results was due mainly to good sales and higher revenue recognition from Singapore residential projects. GuocoLand\u2019s revenue surged by 60 percent year-on-year to $370.56 million in the second quarter ended 31 December 2017, due mainly to higher sales and contributions from its housing developments in Singapore,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55807,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-posts-strong-fy2017-net-attributable-profit-despite-lower-revenue\/","url_meta":{"origin":118415,"position":2},"title":"SingHaiyi posts strong FY2017 net attributable profit despite lower revenue","date":"May 24, 2017","format":false,"excerpt":"\r Sales of completed units from its commercial condominium project in US, Vietnam Town (pictured), contributed to SingHaiyi\u2019s revenue in FY2017. (Image: SingHaiyi Group) Despite an 83.6 percent drop in revenue, SingHaiyi Group saw its net attributable profit for the financial year ended 31 March 2017 increase by 6.1 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123079,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-tax-revenue-up-amid-higher-stamp-duties-corporate-and-personal-income-tax-collected\/","url_meta":{"origin":118415,"position":3},"title":"Singapore tax revenue up, amid higher stamp duties, corporate and personal income tax collected","date":"November 8, 2021","format":false,"excerpt":"\r Singapore tax revenue up, amid higher stamp duties, corporate and personal income tax collected$39.43 billion was collected\u00a0in tax revenue\u00a0for April to September 2021, up from $23.74 billion collected in the\u00a0same period in FY20. Singapore registered an increase in tax revenue for the period of April to September 2021, with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/singapore-marina.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":64770,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-q4-net-profit-soars-to-s244-85mil\/","url_meta":{"origin":118415,"position":4},"title":"GuocoLand Q4 net profit soars to S$244.85mil","date":"August 28, 2017","format":false,"excerpt":"\r \u00a0 Developer GuocoLand\u2019s net profit surged to $244.85 million in the fourth quarter ended 30 June 2017 from S$39.85 million in the same period a year ago, while revenue soared to S$407.37 million from S$214.48 million, revealed an SGX filing on Saturday (27 August). \u201cGuocoLand has delivered a creditable\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12584,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-aldar-properties-q1-net-profit-gains-14\/","url_meta":{"origin":118415,"position":5},"title":"Abu Dhabi's Aldar Properties Q1 net profit gains 14%","date":"May 10, 2016","format":false,"excerpt":"\r State-linked builder made a profit attributable to equity holders of $176.7m in the three months to March 31\r \r Source : arabianbusiness.com\r Read more...Abu Dhabi's Aldar Properties Q1 net profit gains 14%","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\/118415"}],"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=118415"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118415\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=118415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=118415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=118415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}