UOL's net profit grew 14% to $478.82m in FY2019 | / Property news / UOL's net profit grew 14% to $478.82m in FY2019

UOL's net profit grew 14% to $478.82m in FY2019

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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.

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