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United Global posts 62.5% jump in FY17 earnings to US$9.2 mil

Stanislaus Jude Chan
Stanislaus Jude Chan2/28/2018 07:06 PM GMT+08  • 2 min read
United Global posts 62.5% jump in FY17 earnings to US$9.2 mil
SINGAPORE (Feb 28): Lubricant manufacturer and trader United Global saw its full-year earnings rise 62.5% to US$9.2 million ($12.1 million) for the FY17 ended December, from US$5.6 million a year ago.
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SINGAPORE (Feb 28): Lubricant manufacturer and trader United Global saw its full-year earnings rise 62.5% to US$9.2 million ($12.1 million) for the FY17 ended December, from US$5.6 million a year ago.

This was achieved on the back of a 9.0% rise in group revenue to US$99.8 million in FY17, from US$91.5 million a year ago.

The increase was mainly attributable to higher revenue from its Manufacturing segment, which rose 56.6% to US$79.5 million, from US$50.7 million a year ago. Sales volume jumped by 67.4%, buoyed by contribution from PT Pacific Lubritama Indonesia (PLI), which was acquired in July 2017.

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