UIC net profit up 47% in Q2 on fair value gains
Excluding fair value effects, earnings were down 24% at S$58.6m
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Singapore
PROPERTY group United Industrial Corp (UIC) has posted a net profit of S$108.5 million in the second quarter, up 47 per cent from the same period last year, lifted by fair value gains.
In the three months that ended June 30, UIC booked a $49.8 million million fair value gain on investment properties (net of non-controlling interests), reversing from a fair value loss of S$3 million in the same period last year.
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