United Overseas Australia expects H1 group operating profit to fall 4.7% to A$43m

UNITED Overseas Australia is expecting its group consolidated operating profit for the half year ended June 30, to fall by A$2 million (S$2.02 million) or 4.7 per cent to A$43 million, after adjusting for taxation and minority interests.

In its profit guidance released on Monday, the property development and management firm attributed this decrease to the timing of development completions in the first half of the year, along with a "flat Malaysian economy".

The group is listed both in Singapore and Australia.

As at 3.55pm on Monday, the stock was trading flat at S$0.66 apiece.