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UEL posts lower Q3 net profit on discontinued operations

Earnings plunge 92% to S$10.6m; revenue increases 41% to S$143m

Published Mon, Nov 13, 2017 · 09:50 PM

Singapore

UNITED Engineers Ltd (UEL) reported a net profit of S$10.6 million for the third quarter ended Sept 30, down from S$134.65 million a year ago.

The 92 per cent plunge was mainly due to some S$123 million of profit attributable to owners of the company in the year-ago comparative period, derived from discontinued operations related to Multi-Fineline Electronix Inc and its subsidiaries and the group's environmental engineering businesses.

UEL had sold its US subsidiary Multi-Fineline Electronix and environmental engineering firm UES Holdings last year. Excluding discontinued operations, the group's net prof…

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