UIC's Q3 profit dips as takings from joint venture fall

UNITED Industrial Corporation (UIC) reported a 2 per cent dip in net profit attributable to shareholders for quarter ended Sept 30, 2016, no thanks to a drop in the operating results of its joint ventures.

UIC's net profit totalled S$64.0 million for the third quarter of this year, compared to S$65.3 million for the same period last year.

Its revenue was up 38 per cent year on year to S$262.0 million; but its share of operating results of joint ventures came in at a loss of S$3.9 million, from a gain of S$10.3 million in 2015.

Its earnings per share was down to 4.5 Singapore cents, from 4.6 cents the year before.

UIC shares closed Friday unchanged at S$2.78.