UNITED Engineers saw net profit shrink 25 per cent to S$8.3 million for the second quarter ended June 30, down from S$11.01 million in the year-ago period, the property development and engineering group announced on Wednesday.
Revenue fell 8 per cent year-on-year to S$88.14 million. Of UE's three business segments, property rental and hospitality was the only one to see revenue rise year-on-year in the second quarter, up 5 per cent to S$32.9 million. "The group expects the weaker economic outlook in Singapore and the sustained impact of the July 2018 property cooling measures to continue to weigh on the overall sentiment of the private residential property market in Singapore," said UE.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks to watch: HRnetGroup, GS Holdings, CDW Holding, United Food HoldingsTHE following companies saw new developments that may affect trading of their shares on Tuesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Harry Maguire ‘tailor-made’ for Manchester United: Jonny EvansHarry Maguire is 'tailor-made' for Manchester United and could soon be as important for his new club as Virgil van Dijk is for rivals Liverpool, former teammate Jonny Evans has said. United made Maguire the most expensive defender in world football when they signed him for...
Source: thenewpaper - 🏆 7. / 63 Read more »
Straco Q2 net profit drops 17% on higher expenses, weaker RMBSTRACO Corporation, a developer and operator of tourism-related attractions, on Tuesday posted a 17 per cent drop in net profit to S$9 million for its second quarter ended June 30, from S$10.8 million in the year-ago quarter. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Best World Q2 earnings treble to S$26.8m on revenue surge, higher marginsBEST World, whose business dealings are being investigated by the Singapore Exchange (SGX), on Tuesday reported second-quarter net profit nearly trebling to S$26.8 million from S$9.1 million a year ago on a surge in revenue and higher gross margins. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Olam Q2 profit slumps 34.5% on higher costs, exceptional lossesAGRI and food giant Olam International’s net profit shrank 34.5 per cent to S$61.5 million for its second quarter ended June 30, from S$94 million a year ago. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
mm2 Asia Q1 profit falls 4.1% on higher cost of salesFILM production company mm2 Asia’s first-quarter net profit declined 4.1 per cent to S$7 million from S$7.2 million a year ago, mainly due to higher amortisation of film rights. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »