SC Global Developments, the developer of high-end luxury residences, today announced it nearly tripled its net profit to $53.8 million for the half year ended 30 June 2010, from $18.3 mil last year.
Net Profit for the second quarter of $40.4 million was five times the net profit for the same period last year of $7.8 million. Higher revenue recognition from the Group’s development projects, including The Marq on Paterson Hill, Hilltops and Martin No. 38, contributed strongly to the reported profit as construction progressed for these projects.