South Sea residential sag

SOUTH Sea Development has seen interim profits slump 82 per cent despite a 74 per cent increase in turnover.

Profit for the six months to September 30 was $3.2 million, compared to $23.3 million previously.

Turnover jumped to $199.5 million compared to $114.5 million previously.

Basic earnings per share were 0.56 cents.

down from 4.05 cents.