UIC Q2 profit soars 89.8% to S$112m

HIGHER trading property sales gave a lift to results of UIC Industrial Corporation (UIC) in its second quarter.

Net profit leapt 89.8 per cent to S$112 million from the year-ago period, the group said in a Singapore Exchange filing on Friday evening.

For the three months ended June 30, revenue climbed 22.9 per cent to S$236 million from the year-ago period. The rise in revenue was due partly to a 67 per cent increase in sales of trading properties to S$104 million, and higher sales for the group's residential projects, particularly from Alex Residences and Mon Jervois, it added.

Q2 earnings per share rose to 4.3 Singapore cents from 4.0 Singapore cents in the previous year.

No dividend was proposed. UIC shares closed 0.727 per cent down to S$2.73 on Friday.