UOL's Q1 net profit falls 39 per cent in the absence of one-off gain

Singapore

UOL Group's net profit for the first quarter ended March 31 slid 39 per cent to S$74.2 million due to the effect of a one-off gain from the sale of land at Jalan Conlay, Malaysia, in the year-ago comparison period.

Excluding the impact from the sale of land, its first-quarter net profit would have dipped 3 per cent from a year ago to S$74.2 million.