\nUOL Group\u2019s revenue increased six percent on the back of higher progressive recognition of revenues from ongoing residential projects Principal Garden and Botanique at Bartley (pictured) (Image: UOL Group Limited).<\/p>\n
UOL Group Limited saw its net profit increase by four percent to S$80.3 million in Q1 2017, mainly due to contributions from ongoing and new development projects.
UOL Group\u2019s revenue increased six percent on the back of higher progressive recognition of revenues...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-54789","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-efH","jetpack-related-posts":[{"id":22019,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uols-profit-plunges-55-in-q2-on-investment-losses\/","url_meta":{"origin":54789,"position":0},"title":"UOL's profit plunges 55% in Q2 on investment losses","date":"August 5, 2016","format":false,"excerpt":"\r Artist\u2019s impression of Botanique at Bartley by UOL Group. Property developer UOL Group has reported a 55 percent slump in net profit to S$68.8 million in the second quarter ended 30 June 2016, due mainly to fair value losses on investment properties. The Singapore-listed company recorded losses totalling S$21.5\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112328,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-profit-down-7-in-q3\/","url_meta":{"origin":54789,"position":1},"title":"UOL net profit down 7% in Q3","date":"November 13, 2019","format":false,"excerpt":"\r The drop in revenue was partially offset by higher progressive recognition of revenue from The Tre Ver and Amber45, as well as higher sales from the group\u2019s management services and technology segment. Photo: UOL UOL Group saw its net profit for the third quarter ended 30 September 2019 drop\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35120,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-to-launch-new-projects-in-clementi-potong-pasir-in-next-two-years\/","url_meta":{"origin":54789,"position":2},"title":"UOL to launch new projects in Clementi, Potong Pasir in next two years","date":"November 21, 2016","format":false,"excerpt":"\r The Clement Canopy in Clementi is set to be launched in early 2017. (Photo: URA) Property developer UOL Group is planning to launch two new residential projects in Clementi and Potong Pasir over the next two years, reported Singapore Business Review, citing a report from OCBC Investment Research. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62970,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-profit-up-59-in-q2\/","url_meta":{"origin":54789,"position":3},"title":"UOL net profit up 59% in Q2","date":"August 7, 2017","format":false,"excerpt":"\r Mainly due to higher revenue recognition from its Singapore condominium project, Principal Garden, UOL saw its net profit increase from\u00a0S$68.8 million in Q2 2016 to S$109.4 million in the second quarter of 2017. (Image: UOL Group Limited) Despite a 59 percent increase in net profit in Q2 2017, UOL\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46019,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-profit-down-27-to-287m\/","url_meta":{"origin":54789,"position":4},"title":"UOL net profit down 27% to $287m","date":"February 27, 2017","format":false,"excerpt":"\r Artist\u2019s impression of The Clement Canopy, a new condominium being jointly developed by UOL Group.\u00a0 UOL Group\u2019s net profit for the financial year ended 31 December 2016 fell 27 percent to $287 million from $391 million during the previous year, mainly due to valuation losses on investment properties. Revenue\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114648,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-profit-up-14-to-478-8m-in-2019\/","url_meta":{"origin":54789,"position":5},"title":"UOL net profit up 14% to $478.8m in 2019","date":"March 2, 2020","format":false,"excerpt":"\r The company attributed the hike to higher attributable fair value and other gains of $165.1 million compared with the previous year\u2019s $85.3 million. Photo: Avenue South Residence UOL Group saw its net profit for the full year ended 31 December 2019 increase 14% to $478.8 million from $418.3 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/54789"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=54789"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/54789\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=54789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=54789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=54789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nGroup revenue climbed six percent to S$350.7 million on the back of higher progressive recognition of revenue from ongoing residential projects Principal Garden and Botanique at Bartley.
\nRevenue from property development accounted for over half of group revenue at S$183.3 million, while property investments and hotel operations contributed S$56.5 million and S$104.6 million, respectively.
\nIn an SGX filing, UOL revealed that share of profit from associated and joint venture companies rose one percent to S$34.4 million primarily due to \u201cnew contribution from The Clement Canopy development which was launched in end February 2017, and Holborn Island, London, which was acquired in November 2016, offset largely by the absence of contribution from the Thomson Three development which was completed in May 2016\u201d.
\nIt noted that conditions within Singapore\u2019s private residential market appear to be stabilising following the adjustments to the property cooling measures and improved sentiments.
\nMeanwhile, the pressure on office rents from new supply has abated as demand from corporates pick up. Retail rents, on the other hand, remain under pressure from an influx of new supply as well as competition from e-commerce, it added.
\n\u00a0
\nThis article was edited by Denise Djong
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…UOL net attributable profit up 4% in Q1<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"