Integrated property developer Overseas Union Enterprise reported profit after tax for 2Q2011 jumped 20.3% year-on-year to $20.1 million, against a revenue of $72.3 million which increased by 39.8%.
In 2Q2011, revenue from the group’s property investment division amounted to $25.6 million compared to $8.1 million a year ago, while the hospitality division achieved revenue of $44.6 million versus $41.6 million last year.
In tandem with the healthy top-line growth, the group’s gross profit increased by 48.9% to reach $45.3 million in 2Q2011.
The group’s total assets continued to grow to $5.3 billion as at 30 June 2011, from $4.7 billion as at 31 December 2010. Net asset value per ordinary share as at 30 June 2011 was $3.09, higher than $2.86 as at 31 December 2010.
OUE has announced an interim tax-exempt dividend of 2 cents per share.
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