Property sales boost United Engineers Q3 performance

UNITED Engineers saw its revenue inch up 7 per cent to S$786.3 million, while its net profit attributable to shareholders fared much better - climbing 47 per cent to S$18.5 million, for the three months ended Sept 30, 2014.

The group said that its revenues were up, thanks to the progressive revenue recognition from the sale of its Eight Riversuites development.

United Engineers' bottom line also got a boost from a positive contribution from the group's US Nasdaq-listed subsidiary, Multi-Fineline Electronix, Inc.

United Engineers' earnings per share (EPS) were 2.9 Singapore cents, compared with three Singapore cents the year before.

Its stock closed two Singapore cents up at S$2.88.