Full-year earnings at UIC, SingLand fall on lower residential sales

Singapore

UNITED Industrial Corporation (UIC) and its 80 per cent subsidiary, Singapore Land (SingLand), have posted declines in net profits and revenues for the year ended Dec 31, 2013, as both recorded fewer residential sales.

UIC's net profit for 2013 fell 19 per cent to $316.1 million, while separately listed SingLand reported a 17 per cent decline in net profit to $339.2 million.