GuocoLand's profit fell 55% to $114.07m in FY2020

Uploaded By:  Nathanielle Punay Submitted By:  Nathanielle Punay Case Study:  No Revenue from investment properties and hotels dropped. GuocoLand saw its profit attributable to shareholders plunge 55% YoY to $114.07m in FY2020 from $255.67m in FY2019, an announcement revealed. This is despite its revenue edging up 2% YoY to $941.84m from $926.96m over the same period. Revenue from the group’s property development business rose about 5% YoY. However, it was offset by a fall in the revenue from investment properties, with revenue from hotels shrinking by close to 30%. read more