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UOL Q1 profit up on higher property development revenue

Group plans to launch Shanghai project this quarter and Clementi condo next year

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Sales from new projects, Botanique at Bartley (above) and Principal Garden which were launched in March and October 2015 respectively, contributed to the revenue rise of 39 per cent.

Singapore

UOL Group, which is involved in property and hotels, has posted a 4 per cent increase in net profit to S$77.08 million for the first quarter ended March 31, 2016 - due mainly to higher revenue contribution from ongoing as well as new property development projects.

Revenue