UIC profit down 13% to $52.9m in Q3

Lower contribution from its project, The Clement Canopy, dragged profits down.

United Industrial Corporation (UIC) saw its net profit dip 13% YoY to $52.9m in Q3 from $60.88m in 2018, an SGX filing revealed. In contrast, revenue jumped 28% YoY to $42.5m from $151.91m over the same period.

The profit decline was blamed on the lower contribution from the joint venture residential project, The Clement Canopy, which was fully sold last April.

On the other hand, its revenue was boosted by higher sales recognition from hotel operations, trading properties and technology operations.

As for the 9M period, UIC’s net profit has skyrocketed 134% YoY to $543.31m from $232.26m in 2018, despite the profit slip in Q3. This was boosted by higher contribution from Park Eleven (Shanghai project) and UIC Building, as well as a one-time gain on derecognition of an associated company of $210.3m, arising from the acquisition of AHPL last 17 April.

Revenue over the same period also went up 20% YoY to $98.4m, which was also thanks to higher sales recognition from hotel operations, trading properties and technology operations.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.
The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.
If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia