UOL to launch freehold Meyer Blue condo in September as H1 net profit falls 3% to S$130.4 million
The group is bullish on its hospitality portfolio, which recorded higher revenue contributions in the first half with the opening of Pan Pacific Orchard in June 2023
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PROPERTY and hospitality company UOL Group on Tuesday (Aug 13) reported a net profit of S$130.4 million in the first half of the year, a 3 per cent drop from S$135 million reported in the corresponding period last year.
Revenue for H1 fell 7 per cent to S$1.27 billion, from S$1.37 billion in H1 2023, as UOL recorded lower contributions from its property development business.
Still, the group is pressing ahead with a strong pipeline of launches, kicking off with the freehold Meyer Blue condominium, which is targeting to launch its private preview next month.
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