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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%
Must-read if you live in Singapore
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- New NUS degree path for working adults
- Gojek to introduce 70-cent surcharge and additional drop-off point option
- Things to do: What’s on this week
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DIY Tips - Shoebox
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- Upcycle shoe boxes, a waste?
Motif Trends - Dots
- Trending: Polka Dot Interiors
- Polka Dot Interior Design
- Modern Interior Design Trends Reinventing Polka Dots for Room Decorating
- Polka Dot Patterns Adding Rhythm and Color to Modern Interior Design
- Decorating With Patterns: Polka Dot Interiors
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