As cost of sales also increased by 17% y-o-y to $105.5 million, gross profit for 1Q19 came in at $79.8 million, 5% higher than $75.7 million in the previous year.
SINGAPORE (Apr 23): United Industrial Corporation (UIC) declared earnings of $81.1 million for 1Q19, 35% higher than $60.2 million in 1Q18.
This came on the back of a 12% increase in revenue to $185.3 million from $165.7 million a year ago, mainly due to higher sales of trading properties with higher sales achieved for the group’s residential development projects; higher contribution from investment properties; and higher contribution from information technology operations. The group’s hotel operations remained stable.
