SC Global Q1 profit jumps 803%

By Loh Kim Chin, Channel NewsAsia | Posted: 15 May 2007 2041 hrs

SINGAPORE: First quarter profits of SC Global are up 803 percent to nearly S$11 million.

The developer of high-end residential properties cited higher sales and selling prices of its projects.

These projects include The Ladyhill, The Boulevard Residence and The Tomlinson.

Finance costs fell 33 percent to S$1.7 million, while staff and administrative costs were also lower at S$2.2 million.

Meanwhile, SC Global has postponed the auction of the last of its two super penthouse units at The Boulevard Residence to a later date.

It is holding out for higher prices in view of the strengthening market.

The auction, to be conducted jointly by Christie's Great Estates and Colliers International, was originally set for this Sunday.

- CNA/so