OUE Q3 profit surges to S$124.1m on non-cash gain from merging of Reits

Singapore

OUE Limited's third-quarter net profit surged to S$124.1 million, almost 60 times that of the S$2.1 million net profit for the year-ago period due to higher earnings before interest and taxes (Ebit) and a one-off non-cash gain of S$90.9 million arising from the merger of OUE Commercial Real Estate Investment Trust (OUE C-Reit) and OUE Hospitality Trust (OUE H-Trust).

For the quarter ended Sept 30, earnings per share soared to 13.77 Singapore cents versus 0.23 cent previously.