UOL net profit up 14% for FY19

Singapore

HIGHER fair value and other gains boosted UOL's net profit by 14 per cent to S$478.8 million for the full year ended Dec 31, 2019, while revenue declined 5 per cent to S$2.28 billion.

The property developer saw higher attributable fair value and other gains of S$165.1 million compared with S$85.3 million in the previous year. Other gains of S$28.1 million came mostly from the sale of Pan Pacific Suzhou, versus restated other losses of S$34.4 million a year ago.