07 Aug '17, 5am

UOL net profit up 59% in Q2

Mainly due to higher revenue recognition from its Singapore condominium project, Principal Garden, UOL saw its net profit increase from S$68.8 million in Q2 2016 to S$109.4 million in the second quarter of 2017. (Image: UOL Group Limited) Despite a 59 percent increase in net profit in Q2 2017, UOL Group expressed concern on a possible “disconnect” between recent residential land tender prices and achievable end sales. “Transaction volume in the residential sector has risen steadily but a sustainable recovery in end-sale prices will depend on the dynamics of economy, supply-demand and the rental market”, said Liam Wee Sin, deputy group chief executive officer of UOL. UOL saw its net profit soar from S$68.8 million in Q2 2016 to S$109.4 million in the second quarter of 2017, mainly due to higher revenue recognition from Singapore condominium project, Principal Garden , highe...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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