UIC profit down 13% to $52.9m in Q3

Submitted By:  Nathanielle Punay Case Study:  No 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. read more