However, revenue for the period fell by 6.9% y-o-y to $292.8 million due to a softer performance across the board.
OUE Limited has reported earnings of $35.6 million in the 1HFY2025 ended June 30, reversing from the loss of $96.1 million in the corresponding period the year before.
The reversal in earnings was mainly due to a provisional negative goodwill of $94.9 million recognised for the acquisition of additional equity interests in Gemdale Properties and Investment Corporation Limited (GPI) in the 1HFY2025. Higher adjusted ebit, a net change in fair value of investment properties and higher finance income also led to the higher bottomline, which was partly offset by an increase in foreign exchange losses and tax expenses.
