UOL net profit down 49% in FY2024

Revenue from property development decreased by 1% to $1.2b.

UOL Group Limited (UOL) reported a 49% year-on-year (YoY) decrease in net attributable profit to $358.2m due to the absence of gains from selling a property on Kitchener Road.

Revenue for the period increased 4% YoY to $2.79b on higher revenue from property investments and hotel operations.

Revenue from property development decreased by 1% to $1.2b on lower revenue from Clavon and the absence of contributions from Avenue South Residence.

However, revenue from property investments increased by 8% to $555.5m driven by better performance by almost all the group’s properties, mainly Singapore Land Tower.

Moreover, revenue from hotel operations rose 7% to $818.4m due to the opening of Pan Pacific Orchard and better performance by Pan Pacific Singapore.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia