SUBSCRIBERS
Fair value losses on investment properties hit UIC's second quarter
Net profit slides 33% to S$74.7 million, but revenue rises 53%
Add BT as a preferred sourcePublished Fri, Jul 28, 2017 · 09:50 PM
Singapore
THE second-quarter net profit for United Industrial Corporation (UIC) tumbled 33 per cent to S$74.7 million from the previous year due to higher expenses and fair value losses on investment properties.
The group said in a Singapore Exchange filing on Friday evening that cost of sales rose 62 per cent to S$254.4 million, while selling and distribution costs more than doubled to S$10.9 million, in line with higher sales from residential projects.
Copyright SPH Media. All rights reserved.
