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UOL posts 5% decrease in 1Q earnings to $72.4 mil

Samantha Chiew
Samantha Chiew5/10/2019 06:20 PM GMT+08  • 3 min read
UOL posts 5% decrease in 1Q earnings to $72.4 mil
SINGAPORE (May 10): UOL Group reported 1Q19 earnings of $72.4 million, 5% lower from $76.1 million in 1Q18, supported by a higher proportion of overseas profits with higher taxes and profits with higher non-controlling interests.
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SINGAPORE (May 10): UOL Group reported 1Q19 earnings of $72.4 million, 5% lower from $76.1 million in 1Q18, supported by a higher proportion of overseas profits with higher taxes and profits with higher non-controlling interests.

However, excluding the accounting reversal of $31.9 million relating to UIC consolidation, earnings would have increased by 27% to $104.3 million.

Revenue increased 12% to $741.2 million from $663.7 million a year ago, mainly due to recognition of property development revenue sales at Park Eleven, Shanghai where the remaining 103 units of the 150 units sold at the end of 2018 were handed over in 1Q19.

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