Singapore-listed United Industrial Corporation, UIC, has reported a net profit of S$139 million for the first half of the year ended June.
This overturns the loss of S$178 million in the same period last year.
Its revenue rose 18 per cent on year to S$553 million.
Meanwhile, the group has posted a second quarter net profit of S$79 million dollars.
This overturns the loss of S$252 million dollars in the same period last year.
Its revenue for the three months was up 7.0 per cent on year to S$292 million.
UIC says the higher revenue was mainly because of higher sales of residential projects, namely Park Natura and The Trizon in Singapore as well as The Excellency in Chengdu, China.
It adds that it has higher revenue from hotel operations.
Source : Channel NewsAsia – 6 Aug 2010