United Engineers' full-year profit hits $269m

United Engineers says net earnings for the year ended Dec 31, 2011 increased 149% year to $269.46 million from a year ago.

The property developer also registered record revenue of $1.19 billion, more than double what was made a year ago, on the back of full revenue recognition from Park Central @ AMK and The Rochester for units sold under deferred payment scheme.

A first and final dividend of 5 cents per share and a special dividend of 10 cents per share has been recommended.