OUE doubles 2HFY2022 earnings to $ 101.2 million

OUE closed March 1 at $1.23, versus its NAV as at Dec 31 2022 of $4.35.

OUE has reported earnings of $101.2 million for 2HFY2022, up 98.8% y-o-y. This brings earnings for the full year ended Dec 31 2022 to $189.9 million, versus FY2021's $80.9 million.

Revenue for the year increased by 63.3% over the preceding FY2021 to $491.1 million, with improvement all-round from its real estate, hospitality, healthcare and consumer business segments.

In addition, net write-back of impairment losses, higher valuation gains on its key assets such as Hilton Singapore Orchard and Crowne Plaza Changi Airport helped too.

The company plans to pay a final dividend of 1.5 cents, bringing full year payout to 2.5 cents.

OUE closed March 1 at $1.23, versus its NAV as at Dec 31 2022 of $4.35.

 

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