SUBSCRIBERS

Fair value losses on investment properties hit UIC's second quarter

Net profit slides 33% to S$74.7 million, but revenue rises 53%

Published Fri, Jul 28, 2017 · 09:50 PM

Singapore

THE second-quarter net profit for United Industrial Corporation (UIC) tumbled 33 per cent to S$74.7 million from the previous year due to higher expenses and fair value losses on investment properties.

The group said in a Singapore Exchange filing on Friday evening that cost of sales rose 62 per cent to S$254.4 million, while selling and distribution costs…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes