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12-11-14, 13:18
http://www.straitstimes.com/premium/money/story/uol-rings-10-rise-third-quarter-profit-20141112
UOL rings in 10% rise in third-quarter profit
Published on Nov 12, 2014 1:24 AM
By Jacqueline Woo
DEVELOPER and hotelier UOL Group has turned in a 10 per cent rise in third-quarter profit to $102.6 million, thanks to higher gains from its associated and joint venture companies.
Revenue rose 66 per cent to $433.5 million for the three months ended Sept 30, following the completion of The Esplanade in Tianjin, China.
The increase was also backed by higher contributions from three Singapore developments - Parkroyal on Beach Road, Parkroyal on Pickering and Pan Pacific Serviced Suites Beach Road.
Share of profit from associated firms rose 29 per cent to $30.7 million due largely to United Industrial Corp (UIC). It registered higher gains from Pan Pacific Singapore and the Archipelago and Thomson Three projects, as well as an increased 99.5 per cent interest in unit Singapore Land (SingLand).
In February, UIC made an unconditional voluntary cash offer to buy all the shares it does not already own in SingLand.
Share of profit from joint venture firms jumped 88 per cent to $9.1 million, with contributions from the Archipelago and Thomson Three projects.
Earnings per share for the quarter came in at 13.23 cents, up from the 12.14 cents in the same period last year, while net asset value stood at $9.29 as at Sept 30, from $8.77 as at Dec 31.
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UOL rings in 10% rise in third-quarter profit
Published on Nov 12, 2014 1:24 AM
By Jacqueline Woo
DEVELOPER and hotelier UOL Group has turned in a 10 per cent rise in third-quarter profit to $102.6 million, thanks to higher gains from its associated and joint venture companies.
Revenue rose 66 per cent to $433.5 million for the three months ended Sept 30, following the completion of The Esplanade in Tianjin, China.
The increase was also backed by higher contributions from three Singapore developments - Parkroyal on Beach Road, Parkroyal on Pickering and Pan Pacific Serviced Suites Beach Road.
Share of profit from associated firms rose 29 per cent to $30.7 million due largely to United Industrial Corp (UIC). It registered higher gains from Pan Pacific Singapore and the Archipelago and Thomson Three projects, as well as an increased 99.5 per cent interest in unit Singapore Land (SingLand).
In February, UIC made an unconditional voluntary cash offer to buy all the shares it does not already own in SingLand.
Share of profit from joint venture firms jumped 88 per cent to $9.1 million, with contributions from the Archipelago and Thomson Three projects.
Earnings per share for the quarter came in at 13.23 cents, up from the 12.14 cents in the same period last year, while net asset value stood at $9.29 as at Sept 30, from $8.77 as at Dec 31.
[email protected]