Property company UOL Group said its first quarter net profit fell 71 per cent to just over S$100 million. This was due mainly to negative goodwill on acquisition of interests in an associated company in the first quarter of last year. But the picture was more positive on the revenue end up 27 per cent to S$250 million due to the better performance of its property development, investments and hotel...
UOL Group
Mainboard-listed UOL Group on Friday said its third-quarter net earnings rose 44 per cent on-year to S$105.6 million. This was on the back of a 21 per cent rise in revenue for the three months ended September to S$323.9 million. UOL said progressive recognition of revenue from development properties helped boost its turnover in the quarter. The company also recorded a higher share of profits from...
UOL Group on Tuesday said its net profit surged 674 per cent to S$332 million in the first quarter this year. It said this was due to gains of S$278 million that came about from negative goodwill after it acquired UIC shares. UOL also attributed the performance to the lowering of the Singapore corporate tax rate to 17 per cent from 18 per cent. Revenue also went up by 22 per cent to S$196.7 million. The...
Property developer UOL has booked an 81 per cent drop in full-year earnings to S$147.2 million in 2008. The decline was largely due to fair value losses and impairments. UOL said revenue climbed 27 per cent over the same period to hit S$899 million. It is expecting the environment for office space to become more difficult in the coming quarters. UOL said that at the operating level, profit grew by 21 per...
An independent assessor has thrown a spanner in the works in UOL Group's takeover bid for United Industrial Corp. After evaluating the offer, Dutch bank ING said UOL's offer price for UIC shares is "not fair". On January 14, UOL had proposed to pay S$1.20 for each UIC share. This represents a nine per cent premium over UIC's last traded price prior to the announcement. The bid for UIC revived long-time...
Property developer UOL Group has posted a 44 percent drop in first-quarter net profit to about S$43 million. This was due to the absence of a one-time gain on the sale of Central Plaza, which lifted the number in the year-ago period. Revenue rose 11 percent to about S$162 million, boosted by better performances from its hotels in the key markets of Singapore, Australia and Vietnam. UOL also benefited...