DJ Keppel Land 2Q Net Profit S$58.2M Vs S$52.7M >K17.SG
SINGAPORE (Dow Jones)--Keppel Land Ltd. (K17.SG) said Wednesday that its second-quarter net profit rose 10.4% on higher sales.
Net profit for the three months ended June 30 was S$58.2 million, up from S$52.7 million a year earlier, the developer said in a statement.
Sales rose 34.4% to S$249.9 million from S$185.9 million.
"The second quarter of 2009 saw an improvement in the property market as the stock market rallied and the Singapore economy appeared to be coming out of recession," Chief Executive Kevin Wong said.
"As the markets in the region improve, we will accelerate our project launches in Singapore, China and Vietnam to achieve faster returns," he added.
Wong said both the company's property development and fund management divisions "are actively looking for acquisition opportunities."
