UE's Q3 earnings dip 2% to $12.5m
PROPERTY development conglomerate United Engineers (UE) posted net profit of $12.5 million for its third quarter ended Sept 30, down 2 per cent from $12.8 million a year ago.
Revenue more than quadrupled to $732 million from $152.4 million a year ago, as a result of the consolidation of results from tech, auto and property group WBL Corp, which UE took over earlier this year.
UE's Q3 revenue comprised $125 million of revenue from its engineering and construction segment, $52 million from its property rental and services segment, with the remainder coming from WBL. Its property segment did not record any revenue for the quarter.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
PayPal lifts 2024 profit forecast as spending stays resilient, margins improve
Walmart to shut all health centers in US over lack of profitability
Japan may have spent 5.5 trillion yen on Apr 29 intervention, BOJ data suggests
3M to cut dividend on health-care spin, losing aristocrat status
OCBC should be seen as ‘financial conglomerate’ unlike local banking peers, says chairman
HSBC CEO to retire; bank reports 1.7% lower Q1 profit of US$10.8 billion