SINGAPORE (Feb 27): Analysts from OCBC Investment Research and CGS-CIMB Research are staying positive on UOL Group, despite the property company reporting a 51% drop in full-year earnings to $433.7 million for the FY18 ended December.
The decline was mainly due to the absence of a one-off gain of $535.6 million in FY17 on the consolidation of United Industrial Corporation (UIC).
Excluding this one-off gain, UOL’s earnings would have been 26% higher in FY18.
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