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Twin Peaks sales, divestment prop up OUE results

Net profit still down 7.7%; revenue boosted by divestment of Crowne Plaza Changi Airport Extension

Published Fri, Feb 17, 2017 · 09:50 PM

Singapore

BRISK condominium sales and a hotel divestment propelled property developer OUE Limited to a net profit of S$144.4 million for its financial year ended Dec 31, 2016.

However, net profit was 7.7 per cent lower than the S$156.4 million recorded in 2015, due to higher finance costs and net fair value losses on investment properties.

Revenue had more than doubled to S…

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