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UOL posts 14% decline in 3Q earnings to $87 mil on lower margin and JV contributions

Benjamin Cher
Benjamin Cher11/10/2016 08:00 PM GMT+08  • 2 min read
UOL posts 14% decline in 3Q earnings to $87 mil on lower margin and JV contributions
SINGAPORE (Nov 10): UOL posted a 14% drop in 3Q16 earnings to $87.1 million on lower gross profit margin and lower contributions from joint ventures.
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SINGAPORE (Nov 10): UOL posted a 14% drop in 3Q16 earnings to $87.1 million on lower gross profit margin and lower contributions from joint ventures.

Revenue for the quarter rose 11% to $393.3 million due to improvements in all business segments. Revenue for property development increased due to higher progressive recognition of revenue from projects [email protected], Botanique at Bartley and Principal Garden. Increase in revenue from hotel operations was mainly from Pan Pacific Tianjin, PARKROYAL Penang and PARKROYAL Parramatta.

Gross profit margin for 3Q16 dropped 6% to 33% due to higher revenue from property development which has a higher cost ratio and higher property development margin in FY15.

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