United Global: Share Of Profits From Lubricants JV Uplifts Group's Earnings In 2H2020.

25 Feb 2021 18:05

Group posts 2H2020 net profit of US$1.6M, US$3.2M for the full year. The UOC joint venture achieved a 10.7% rise in profit for the year, amounting to approximately US$11.0 million. The Group's 60% share of profits in the joint venture, after amortization, depreciation and partial reversal of deferred tax, amounted to US$5.4M. Its lubricants manufacturing segment benefited from higher gross profit margins from lower raw material costs while its trading segment achieved higher average prices. Directors propose a final ordinary dividend of 1.0 Singapore cent...

Attachments: