Bukit Sembawang Estates Ltd’s revenue for the second quarter jumped to $92.2 million from $20.7 million over the same quarter last year, while earnings soared to $30.9 million from $6.7 million.

The company’s Q2 net profit also climbed to more than four times over the same period last year.

For the six months ended September 30, net profit swelled to $43.5 million from $8.1 million last year, while revenue leapt to $126.7 million from $27.1 million. This was largely attributed to higher profit recognition from development projects compared with the previous year.

The TOP for Paterson Suites in Q2 also meant that profit returns from the project contributed significantly to its Q2 results.

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