Ho Bee Land's net profit in the second half of the year fell by 50% to 50.4 million yuan | Lianhe Zaobao
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Ho Bee Land's net profit in the second half of the year fell 50% year-on-year to SGD 50.4 million, with revenue declining 12% to SGD 262.3 million. Sales in the real estate development business dropped 17%, and rental income decreased by 6%. The company will distribute a final dividend of SGD 0.05 per share on May 22, up from SGD 0.04 per share in the same period last year. Full-year net profit decreased by 9% to SGD 102 million, and revenue fell 17% to SGD 440 million, mainly due to the divestment of Elementum and a reduction in rental income
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