Revenue recognised from the sales of trading properties more than doubled to $231.5 million to $127.5 million, primarily due to higher sales in Pollen & Bleu and progressive sales recognition for V on Shenton.
However, cost of sales rose 62% to $254.4 million.
Gross rental income from investment properties remained stable at $67.9 million while revenue from IT and hotel operations decreased slightly by 7% and 1% respectively, compared to the corresponding period last year.
For the 1H ended June, earnings fell to $134.5 million from $171.6 million a year ago.
At end of June, cash and cash equivalents stood at $553 million.
Looking ahead, UIC expects the rental market to improve with the continued steady takeup of office and retail space.
With the steady response from sales launches and the aggressive land bids by developers, the group expects improving sentiments in the residential market to continue.
Meanwhile, UIC says that the hotel sector will remain competitive but positive despite new hotel room supply coming on stream.
Shares in UIC closed at $3.21 on Friday.
