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UOL posts 97% plunge in FY20 earnings to $13.1 mil on fair value losses on investment properties and other losses

Felicia Tan
Felicia Tan2/26/2021 6:45 PM GMT+08  • 4 min read
UOL posts 97% plunge in FY20 earnings to $13.1 mil on fair value losses on investment properties and other losses
The board has proposed a first and final dividend of 15 cents per share for the FY2020.
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UOL Group Limited has reported a 97% plunge in FY2020 earnings of $13.1 million compared to earnings of $478.8 million in the FY2019.

For the period ended December, the lower earnings were due mainly to fair value losses on investment properties and other losses of $246.7 million in the FY2020 compared with $165.1 million gains in the FY2019.

The decline in the fair value on UOL’s commercial properties and serviced suites, as well as the impairment change for Pan Pacific London and Pan Pacific Melbourne were due to the negative impact of the Covid-19 pandemic.

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