UOL's full-year profit down 27% on net fair value and other losses
UOL Group on Friday posted a net profit of S$287.04 million for the year ended Dec 31, 2016, down 27 per cent from the previous year's S$391.39 million.
The lower bottom line was due partly to the property and hospitality group reporting attributable net fair value and other losses of S$37.2 million in FY2016 - compared with fair value and other gains of S$41 million in FY2015. Also contributing to the net profit decline were lower dividend income and lower share of profit from joint-venture companies.
Revenue rose 13 per cent to S$1.44 billion.
Earnings per share slipped to 35.82 Singapore cents in FY2016 from 49.39 Singapore cents in FY2015.
Net asset value per share rose to S$10.10 as at end-December 2016 from S$9.91 as at end-Dec 2015.
UOL closed six Singapore cents lower at S$6.65 on Friday.
UOL has proposed a first and final dividend of 15 Singapore cents per share, unchanged from the previous year.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UK's FTSE 100 hits record highs on Anglo-American boost
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
SocGen Q1 profit slumps less than expected as investment bank surprises
Wall Street Journal moves Asia headquarters from Hong Kong to Singapore
Macquarie sees biggest profit dip in 15 years on commodities downturn
HSBC appoints ex-Citi banker as new Singapore head of global banking