Plunge in fair value gain, lower revenue halved profit at UOL Group
Published on Aug 8, 2014 5:46 PM
SINGAPORE - Developer UOL Group's second quarter net profit halved to $211.7 million from $431.4 million, mainly due to a sharp fall on fair value gains.
Fair value gains on investment properties, including those of associated companies, dived by 64 per cent to $121.2 million.
Revenue for the three months to June 30 slumped by 30 per cent to $213.6 million.
Revenue from property development fell 73 per cent to $36.6 million.
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