UOL (SGX:U14)’s FY25 operating PATMI rose sharply by 49% y-o-y to S$ 469mil, above DBS/ consensus estimates by ~22%/29% respectively.
Robust performance underpinned by stronger property development recognition and recurring income from property investments.
- Read this at SGinvestors.io -
Property investment revenue also increased by 13% y-o-y to S$ 629mil, supported by higher recurring income from 388 George Street in Sydney, improved performance from Singapore Land Tower post-AEI, and new contributions from Odeon 333 which began operations in July 2024.
Meanwhile, share of profits from associates and JVs swung meaningfully positive, reflecting profit recognition from Parktown Residence and Skye at Holland, as well as improved hotel performance post-AEI.
- Read this at SGinvestors.io -
Our view:
UOL's share price is expected to react positively given the operational performance beat and special dividend surprise, following a steep 6% correction today, which was likely to be some near-term profit taking in our view.
Operational momentum remains firmly intact.
Read more at SGinvestors.io.
Above is an excerpt from a report by DBS Group Research. Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.
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