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UOL posts 8% decline in 1Q earnings to $73.8 mil

Stanislaus Jude Chan
Stanislaus Jude Chan5/11/2018 06:20 PM GMT+08  • 2 min read
UOL posts 8% decline in 1Q earnings to $73.8 mil
SINGAPORE (May 11): UOL Group reported an 8% fall in 1Q18 earnings ended March to $73.8 million from $80.3 million in 1Q17 a year ago.
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SINGAPORE (May 11): UOL Group reported an 8% fall in 1Q18 earnings ended March to $73.8 million from $80.3 million in 1Q17 a year ago.

This was mainly due to the $7.6 million amortisation and depreciation of fair value uplifts in 1Q18 under a purchase price allocation exercise when UIC was accounted as a UOL subsidiary from Sept 1, 2017.

Meanwhile, Pan Pacific Orchard took a $6.6 million accelerated depreciation charge following the decision to cease operations in the second quarter of 2018 for redevelopment.

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