MCL Land H1 net profit up 45 percent

Newswire

SINGAPORE, July 31 (Reuters) - Singapore property firm MCL Land Ltd on Wednesday posted a 45 percent rise in first-half net profit to S$13.16 million ($7.5 million) due to lower taxes and better residential sales. MCL, 60 percent owned by Cycle & Carriage Ltd , said the outlook for the Singapore property market remained cautious. The company said its trading profit for the year would be substantially higher than in 2001 but overall results would depend on the extent of further ...

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