UOL's full-year earnings dip on lower property sales
Lower property development sales weighed down full-year earnings at developer UOL.
Net profit for the 12 months to Dec 31 fell 3 per cent to $785.8 million from the preceding year, UOL said in a Singapore Exchange filing on Friday.
Revenue for the period dropped 8 per cent to $1.06 billion from the year before.
UOL said that office and mall rentals and its hospitality business helped cushion declines from sales of its property projects.