UIC posts 2% fall in 3Q earnings to $64 mil

SINGAPORE (Oct 28): UIC, the property and hotel group, reported earnings of $64 million for 3Q, a 2% decline from a year ago.

For the nine month period, earnings rose 27% to $235.6 million as revenue increased by 22% to $699.8 million.

In the quarter to Sept, revenue rose 38% to $262 million, thanks to the $71.7 million increase in higher progressive revenue recognition and higher sales at residential properties V on Shenton and Alex Residences.

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