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UOL - United Overseas Land
28-02-2020, 07:11 PM.
Post: #81
RE: UOL - United Overseas Land
UOL posts 14% increase in FY19 earnings to $479 mil, maintains dividend of 17.5 cents per share

Uma Devi
28/02/2020, 6:17pm

SINGAPORE (Feb 28): UOL Group has reported earnings of $478.8 million for FY2019 ended December, some 14% higher than earnings of $418.3 million a year ago.

This comes despite a 5% dip in revenue to $2.3 billion from $2.4 billion last year.

The group says that the decrease was due to lower progressive recognition of revenue from three development projects – Principal Garden, The Clement Canopy and Botanique at Bartley. These projects obtained their temporary occupation permit (TOP) in December 2018, March 2019 and April 2019 respectively.

The decline in revenue was, however, partially offset by higher revenue recognition from development projects, namely Amber45, The Tre Ver, Avenue South Residence as well as Park Eleven in Shanghai, as well as higher sales from the technology business of United Industrial Corporation Limited (UIC).

Cost of sales for the year fell 9% to $1.2 billion from $1.4 billion last year.

Correspondingly, gross profit increased by a marginal 1% to $1.05 billion from $1.03 billion in FY2018.

UOL’s gross profit margin for FY2019 increased to 46% from 43% last year due primarily to lower revenue from property development which has a higher cost ratio, as well as the absence of accelerated depreciation for Pan Pacific Orchard recognised in FY2018.

The group’s expenses rose 11% to $542.8 million from $490.0 million in the previous year. Finance expenses and marketing and distribution expenses increased by 25% and 1% respectively, while administrative expenses fell 3%.

UOL’s gearing ratio also increased to 0.30 from 0.28 last year, due to borrowings for the acquisition of shares in Marina Centre Holdings Private Limited and Aquamarina Hotel Private Limited, the construction of One Bishopsgate Plaza and for the acquisition of the Clementi Avenue 1 site.

As at end-December, cash and cash equivalents stood at $714.4 million.

Earnings per share for the year came in at 56.77 cents.

The board has proposed a first and final dividend of 17.5 cents per ordinary share, unchanged from the previous year.

Looking ahead, UOL expects the global economic outlook to remain uncertain as trade and geopolitical tensions as well as the outcome of a Brexit deal remains sources of risk, alongside the risk posed by the Covid-19 situation.

More details in https://www.theedgesingapore.com/capital...ents-share

See also :
1. https://links.sgx.com/FileOpen/UOLFY2019...eID=598412
2. https://links.sgx.com/FileOpen/FY2019Med...eID=598413
3. https://links.sgx.com/FileOpen/FY2019Pre...eID=598414
=========== Signature ===========
Specuvestor: Asset - Business - Structure.

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19-05-2020, 08:48 AM.
Post: #82
Rainbow  1Q20 update UOL - United Overseas Land
18 May 2020 UOL provided a ppt update for 1Q2020
A lot of details but full of uncertainty moving ahead.
(click for details)

Stay home and stay safe, everyone.

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26-05-2020, 10:52 PM.
Post: #83
Rainbow  eAGM: UOL - United Overseas Land
26 May 2020 UOL eAGM on Wednesday, 10 Jun 2020@4pm


Pre-registration before 7 Jun 2020, 4pm

(audio visual)
(Audio only)

Dividend SGD0.175
(click for SGX announcement)

Stay home and stay safe, everyone.
Seth Klarman on value investing:

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07-06-2020, 09:59 AM.
Post: #84
Rainbow  Q&A: UOL - United Overseas Land
10 June 2020 Q&A UOL
https://links.sgx.com/FileOpen/Announcem...eID=615594

Q2: What contributed to the drop in group revenue in financial year 2019?
Ans: The drop was mainly due to lower progressive recognition of revenue from three development projects in Singapore, namely Principal Garden, The Clement Canopy and Botanique at Bartley, which obtained their temporary occupation permits in December 2018, March 2019 and April 2019 respectively. 

Stay home and stay safe, valuebuddies.

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