OUE Q1 profit plunges 91.8%
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PROPERTY developer OUE's net profit for the first quarter ended March 31, 2015, plunged 91.8 per cent to S$77.2 million, compared to S$945.6 million in the year-ago period, due to the absence of one-off gains from the deconsolidation of OUE Hospitality Trust.
Meanwhile, the group's revenue held steady at S$108 million, up one per cent from the corresponding period a year ago, as it recognised higher contributions from Lippo Plaza, US Bank Tower and OUE Twin Peaks.
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