UE E&C's net profit soared 50% to $11.64m

Revenue was also up by 9%.

According to OSK, UE E&C announced a 3QFY13 net profit of 11.64m, up 50% from its corresponding quarter in the previous year. Revenue has also increased by 9% to 112.9m due to the higher contributions from new and on-going projects.

Here's more:

Gross profits surged 55% to SGD22.7m due to increased revenue as well as higher margin contribution from a project nearing completion.

Net asset value per share stands at SGD0.82, up from SGD0.73 at 31 Dec 2012. The company intends to raise productivity through continuous manpower training, improving its working process and introducing new technology and equipment in its operations and projects execution and will remain cautious when bidding for new property projects in view of the continuing global economic uncertainties.

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