UIC's full-year net profit up 5% at S$301.5m

Singapore

UNITED Industrial Corporation's full-year net profit rose 5 per cent to S$301.5 million from the previous year, the group said in a Singapore Exchange filing on Friday evening.

For the 12 months ended Dec 31, 2017, revenue climbed 25 per cent to S$1.29 billion from the previous year. This was due largely to a 47 per cent jump in revenue recognised from the sales of trading properties to S$760.3 million in FY2017 from S$516.3 million in FY2016 arising mainly from higher sales in the Alex Residences and Pollen & Bleu projects in Singapore.