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OUE’s 3Q earnings double to $108 mil on higher sales and one-off gains

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OUE’s 3Q earnings double to $108 mil on higher sales and one-off gains

PC Lee Published on Wed, Nov 02, 2016 / 5:40 PM GMT+8

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SINGAPORE (Nov 2): OUE reported 3Q earnings more than doubled to $107.6 million from $15 million a year ago, thanks to higher sales as well as divestment and other gains.

The property group said this was achieved on the back of an increase in revenue by more than four times to $419.1 million in 3Q16 from $99 million in 3Q15.

The increase was underpinned mainly by contribution from the Property Development and Property Investments divisions.

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