Thinner margins erode UOL's Q3 profit

Singapore

THINNER property development margins led to lower earnings for UOL Group in its third quarter, even though turnover rose mainly on the back of higher progressive recognition of revenue from development projects in Singapore.

The real estate group's net profit for Q3 2016 dropped 13.6 per cent to S$87.1 million from the previous year, the group said in a Singapore Exchange filing on Thursday.