OUE net profit sinks 80.7 per cent to S$2.1 m in Q3

OUE has posted a net profit of S$2.1 million in the third quarter, down 80.7 per cent from the same period a year earlier, due mainly to non-cash marked-to-market fair value losses on investments held at fair value.

Revenue in the three months ended Sept 30 rose 0.8 per cent to S$183.3 million.

Earnings per share was 0.23 Singapore cents, down from 1.19 Singapore cents in the third quarter last year.

Net asset value per share was S$4.39 as at Sept 30, from S$4.46 as at Dec 31 last year.

OUE shares rose 1.46 per cent to S$1.39 on Friday before results were announced after market close.