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A BOOMING property market on the back of a broad if tentative economic recovery last year has boosted the results of two mainboard-listed developers.
Guocoland posted a net profit yesterday of $60.4 million in its second quarter ended Dec 31 last year - a dramatic jump from just $861,000 earned in the same quarter a year earlier.
Boosted by positive sentiment and strong property sales, Guocoland's revenue leapt 284 per cent to hit $363.7 million from the same period a year earlier.
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