Published:
UE E&C's gains edge up 9.5% to S$7m
It was lower than expected.
According to OCBC, UE E&C’s revenue and net profit to shareholders increased by 12.2% and 9.5% QoQ respectively to S$96m and S$7m for 3Q12.
Here's more from OCBC:
Although the revenue figure was roughly within our expectations, net profit was below due to lower-than-expected operating margins for its construction and engineering operations.
On its balance sheet, net cash position improved to S$119m (end June 12: S$104m). Meanwhile, we also note that the EC/condo market is facing increasing headwinds as the government rolls out a record number of residential sites.
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