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Full-year profit growth was attributed to a higher attributable fair value.
UOL Group Limited (UOL)’s net profit posted a 14% increase to $478.82m in FY2019, from $418.30m in FY2018, according to its financial statement. Full-year revenues fell by 5% to $2.28b, from $2.4b in FY2018.
The profit expansion was mainly due to higher attributable fair value and other gains of $165.1m compared to other gains of $85.3m in FY2018.
Full-year revenues fell no thanks to lower progressive recognition of revenue from development projects, including Principal Garden, The Clement Canopy and Botanique at Bartley which obtained temporary occupation permit (TOP) in H2 2018, and H1 2019.
Real estate related news stories from Singapore
- Malaysian property stock doubles in value over links to new prime minister
- Chip Eng Seng unit bags S$98.7m HDB contract
- ESR-Reit enters into S$200m unsecured loan facility
- Chart of the Day: Retail supply pipeline to drop to 280,000 sqft in 2020
- MND revises condo DC rates downward by 0.2%
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Motif Trends - Dots
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About Agent.sg Daily Property News Selection
Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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