(November 11 11:00) Sbr.com.sg
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.
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