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UOL held its first in-person results briefing for the financial year ended 31 December 2022 (FY22) since the start of the pandemic in 2020. More than 20 journalists and analysts attended the event at Pan Pacific Singapore.

The panel comprised UOL Group Chief Executive Liam Wee Sin, PPHG Chief Executive Officer Choe Peng Sum, Singapore Land Group Chief Executive Officer Jonathan Eu, UOL Chief Financial Officer Kwa Bing Seng, UOL Chief Operating Officer Neo Soon Hup, and UOL Chief Investment Officer Shirley Ng.

UOL reported a net attributable profit of $491.9 million, up from $307.4 million in FY21, mainly due to strong performance from property development and hotel operations.

Group pre-tax profit before fair value and other gains/losses was up 39% to $626.9 million. Fair value gains of $268.2 million also bolstered the bottom line.

A special dividend of 3.0 cents per share on top of first and final dividend of 15.0 cents has been proposed by the Board of Directors.

Group revenue for the full year increased 28% to $3.2 billion with development projects in Singapore and China accounting for slightly over half of the total.

Mr Liam said: “We are pleased with the strong set of results for the full year on the back of healthy sales of our residential projects and the rebound in the hospitality business. Going forward, we are mindful of the external uncertainties given the ongoing geopolitical tensions, persistent inflationary pressures, recession risks in some developed economies and rising business costs.”

Click here to read more on UOL’s FY22 financial results.

UOL’s FY22 results briefing was held to engage the media and analysts.