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United Global's 1Q earnings rise 33% to $2.9 mil on higher manufacturing sales

Michelle Zhu
Michelle Zhu5/7/2018 05:59 PM GMT+08  • 2 min read
United Global's 1Q earnings rise 33% to $2.9 mil on higher manufacturing sales
SINGAPORE (May 7): United Global, the Singapore-based lubricant manufacturer and trader, posted a 32.9% rise in 1Q18 earnings to US$2.2 million ($2.9 million) from US$1.7 million a year ago on higher revenue due to a surge in contributions from its manufa
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SINGAPORE (May 7): United Global, the Singapore-based lubricant manufacturer and trader, posted a 32.9% rise in 1Q18 earnings to US$2.2 million ($2.9 million) from US$1.7 million a year ago on higher revenue due to a surge in contributions from its manufacturing segment.

The latest quarterly results translate to earnings per share (EPS) of 0.7 US cent, up 16.7% from that of 1Q17.

Group revenue grew 56.7% to US$31 million from US$19.8 million in 1Q17 as manufacturing revenue more than doubled to US$30.2 million from US$13.4 million previously, with increased contributions from the group’s manufacturing plants in Indonesia and Singapore.

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