UIC's Q1 net profit up 39% on property sales, SingLand privatisation

Singapore

UNITED Industrial Corp's (UIC) net profit rose 39 per cent in the first quarter on the back of higher property sale recognition and a larger share of recently privatised Singapore Land.

The property developer said net profit grew to S$60.8 million, or 4.4 Singapore cents per share, in the three months ended March. In keeping with the year-ago position, no dividend has been declared for the quarter.