- Wing Tai (SGX:W05)'s 1HFY23 results are aligned with our estimates, amid moderating development property sales in 2023.
- Key positives:
- Stronger-than-expected associates & JV income from Uniqlo JVs,
- - Read this at SGinvestors.io -
Wing Tai's 1HFY23 revenue and operating profit aligned with our estimates.
- For the 1HFY23 (Jul to Dec 2022), Wing Tai recorded a total revenue of S$260.8mil (-15% y-o-y), with the Group seeing lower y-o-y contribution from development properties (i.e., property sales include the last unit in Le Nouvel Ardmore and progressive sales recognised from The M at Middle Road in Singapore). See Wing Tai's announcement dated 09 Feb 2023.
- - Read this at SGinvestors.io -
Stronger-than-expected Uniqlo JV income a boost to net profit.
- Read more at SGinvestors.io.