UOL’s H1 net profit dips 3% to $130.4m due to fair value losses

Fair value losses for the period amounted to $12.2m.

UOL reported a net profit of $130.4m in H1 2024, down 3% year-on-year (YoY) due to fair value losses of $12.2m compared with fair value and other gains of $3.3m in H1 2023.

Revenue for the period also fell 7% YoY to $1.27b amidst lower contributions from property development, partially offset by higher revenue from hotel operations and property investments.

Revenue from the property development segment fell 23% YoY to $521.8m, due to lower revenue from Clavon and the absence of contribution from Avenue South Residence, partially offset by higher revenue from Watten House and Pinetree Hill.

Meanwhile, property investments rose 8% YoY to $271.3m due to improved performance by Singapore commercial properties and Pan Pacific Serviced Suites Kuala Lumpur, along with new revenue from PARKROYAL Serviced Suites Jakarta, which opened in January 2024.

Hotel operations revenue increased 11% YoY to $377.6m due to the opening of Pan Pacific Orchard and improved performance by Pan Pacific Singapore.

Follow the link for more news on

UOL Group Limited

Also Read

One Sophia sells 30% of units at weekend launch

Turf City sites could deliver up to 800 public housing units: Huttons

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit