30 Apr '13, 6am

SingLand and UIC Q1 profits decline

http://www.businesstimes.com.sg/arch...cline-20130427 Published April 27, 2013 SingLand and UIC Q1 profits decline By jasmine ng OFFICE landlord Singapore Land and its parent company United Industrial Corporation (UIC) have reported declines in their first-quarter net earnings, weighed down by lower trading property sales. For the three months ended March this year, SingLand said its net profit fell 11 per cent to $49.6 million, from $55.5 million a year ago. On a per-share basis, earnings came in lower at 12 cents compared with 13.5 cents in the same period last year. The group's net asset value per share moved up to $12.55 from end-2012's $12.42. Revenue for the quarter slumped 41 per cent year-on-year to $114.7 million. SingLand said this was mainly due to lower sales of trading properties with lower contribution from The Trizon project after it was completed in May las...

Full article: http://forums.condosingapore.com/showthread.php?p=394056#...

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