Mainboard-listed construction firm United Engineers on Tuesday said its net profit has jumped more than three-fold to S$186.2 million for the full year ended December 31.
This compares to profits of S$52.2 million in 2009.
The higher profit was on the back of a 28 per cent rise in revenue to S$901.4 million.
United Engineers said revenue was mainly boosted by progressive revenue recognition from its residential projects, The Rochester and Park Central @ AMK.
Going forward, the company said it has been bidding for commercial and residential developments and will continue to do so in the next 12 months.
A final dividend of 11 cents per ordinary share was declared.
Source : Channel NewsAsia – 1 Mar 2011