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UOL's full-year earnings dip on lower property sales

Published on Feb 28, 2014 7:55 PM

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.

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