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Thakral Corp 2HFY2021 earnings up 17%; FY2021 earnings up 149%

By The Edge Singapore

/ EdgeProp Singapore |

February 24, 2022 10:43 PM SGT

Thakral’s also enjoyed a lift from its property business in Australia, where it is developing a string of Gemlife retirement resorts via a joint venture (Photo: Thakral)

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SINGAPORE (EDGEPROP) - Thakral Corp has reported earnings of $7.3 million for 2HFY2021 ended Dec 2021, up 17% y-o-y. Revenue in the same period was up 40% to $66 million.

For the full year FY2021, earnings hit $16.3 million, up 149%. Revenue, meanwhile, was up 42% to $127.8 million.

The company attributes the better showing partly to revaluation gains of properties it holds as investment.

Thakral’s also enjoyed a lift from its property business in Australia, where it is developing a string of retirement resorts via a joint venture.

Its business of distribution lifestyle products put in a positive showing too, contributing significantly to the company’s total turnover.

Thakral plans to pay another dividend of two cents per share, bringing its full year payout to four cents.

As at Dec 31 2021, its net asset value per share was $1.15, versus $1.13 as at Dec 31 2020.

Thakral shares closed Feb 24 at 59 cents, down 2.5% for the day, but up 12.5% year to date.

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