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UIC posts 36% fall in 3Q earnings to $59.3 mil on lower sales

PC Lee
PC Lee11/2/2018 5:39 PM GMT+08  • 2 min read
UIC posts 36% fall in 3Q earnings to $59.3 mil on lower sales
SINGAPORE (Nov 2): Property group UIC reported 3Q earnings from operations for the quarter recorded $59.3 million, a decrease of 36% over the same period last year, in line with lower sales.
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SINGAPORE (Nov 2): Property group UIC reported 3Q earnings from operations for the quarter recorded $59.3 million, a decrease of 36% over the same period last year, in line with lower sales.

Revenue for 3Q came in at $151.9 million, which was lower than the same period last year by 63% mainly due to lower sales recognition from trading properties.

Revenue recognised from the sales of trading properties at $11.7 million was lower by 96% as the group's development projects were completed and substantially sold in 2017.

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