UOL 3Q earnings down more than sixfold to $93 mil post UIC consolidation

SINGAPORE (Nov 13): UOL Group announced $92.8 million in earnings for the 3Q ended Sept, down more than sixfold from its restated 3Q17 earnings of $609.2 million in the absence of a one-off gain from the consolidation of United Industrial Corporation (UIC) group in 2017.  

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

Revenue for the quarter fell 3% to $523.8 million from $537.9 million a year ago on lower revenue from property development, which more than offset revenue contributions from property investments, hotel ownership & operations, as well as management services and technologies.

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