DJ UOL Group's Residential Property Sales Could Drive 2H Results -- Market Talk
0400 GMT - UOL Group's residential development segment could drive its 2H results due to likely strong home sales, CGS-CIMB says. UOL's property development revenue rose 81% on year to S$687.5 million in 1H on healthy home sales, and CGS-CIMB thinks its coming residential launches will do well. The company's 1H earnings were lifted by some one-off sources, but even with these taken out, it estimates that net profit would have risen 4% on year, saying that UOL's financials look healthy. It keeps an add rating on UOL with a target price of S$8.00. Shares are flat at S$7.23. (yongchang.chin@wsj.com)
(END) Dow Jones Newswires
August 13, 2021 00:01 ET (04:01 GMT)
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