Group revenue for the full year ended Dec 2017 was also 46% higher at $2.10 billion, also due mainly to the UIC consolidation and the associated and joint venture companies of UOL Group and UIC Group from Sept 2017, adding $544.7 million to the group’s topline.
SINGAPORE (Mar 6): DBS is maintaining its “buy” call on UOL Group with a higher target price of $10.23, as the group is currently trading at an attractive valuation of about 0.8 times net asset value (NAV) following the consolidation of United Industrial Corporation (UIC).
After accounting for UIC as the group’s subsidiary, UOL's FY17 earnings trebled to $891.0 million compared to $287.0 million in FY16.
