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Wheelock Q3 earnings jump on Ardmore Three, The Panorama sales

Wheelock Q3 earnings jump on Ardmore Three, The Panorama sales

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REAL estate developer Wheelock Properties posted a net profit of S$28.3 million for its third quarter ended Sept 30, 2016, up one and a half times from S$11.3 million a year ago. Revenue was up 82 per cent to S$152.6 million. Higher revenue was due to[URL=" https://sg-property.sg/properties/ardmore-3/"] sales in Ardmore Three [/URL] and The Panorama. This was partially offset by lower unit sales in Scotts Square and lower dividend and interest income from the group's investment in quoted securities. As at end-September, 60 per cent or 50 units of the 84 units of Ardmore Three were sold at an average price of S$2,900 per square foot (psf). At The Panorama, a total of 677 units or about 97 per cent of the 698 units launched have been sold at an average price of above S$1,240 psf. Net asset value per share was S$2.52 at end-September. Wheelock closed Friday trading unchanged at S$1.48 a share. More info https://sg-property.sg/properties/ardmore-3/ or https://sg-property.sg/

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