GuocoLand's second-half profit falls 58% to $62.8m

Property developer GuocoLand's net profit for the second half of its 2024 fiscal year ended on June 30 fell 58 per cent to $62.8 million, from $148 million in the same period a year ago.

Revenue declined to $752.4 million, a 15 per cent drop from $882.9 million over the same period, said GuocoLand in its financial statement released on Aug 29.

Earnings per share for the sixmonth period stood at 4.83 cents, compared with 12.51 cents a year ago.

For the full year, net profit came in at $129 million, 38 per cent lower than $207 million in the previous financial year.

Revenue, however, grew 18 per cent to $1.8 billion from $1.5 billion.

Earnings per share came in at 9.95 cents, down from 16.97 cents a year ago.

The company has declared a first and final dividend of six cents per share.