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United Global's 2Q earnings halved to US$0.9 mil on higher administrative expenses

Michelle Zhu
Michelle Zhu8/13/2018 10:05 PM GMT+08  • 2 min read
United Global's 2Q earnings halved to US$0.9 mil on higher administrative expenses
SINGAPORE (Aug 13): United Global reported earnings of US$0.9 million ($1.24 million) for the 2Q ended June, halving from its 2Q17 earnings of US$2 million on higher administrative expenses.
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SINGAPORE (Aug 13): United Global reported earnings of US$0.9 million ($1.24 million) for the 2Q ended June, halving from its 2Q17 earnings of US$2 million on higher administrative expenses.

The latest quarter’s results brings the lubricant manufacturer and trader’s earnings for 1H18 to US$3.2 million, down 13.8% from US$3.6 million a year ago.

Revenue for the latest quarter fell 5.8% to US$24.5 million from US$26.1 million on lower contributions from the trading business segment, which registered lower sales volume due to the elimination of inter-group base oil and additives cross selling from the Singapore plant to PLI, following the consolidation of PLI’s accounts.

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