United Industrial Corporation has claimed a 23% year-on-year increase in its net profit to S$136.7 million, for the second quarter ended June 30. In addition, the company notified a fair value gain of S$147.8 million to its income statement for the quarter, based on valuations by independent professional values.

Further, net profit from operations was observed to be declined by 44% to S$55.7 million whereas total revenue for the quarter was S$235.7 million, a significant deviation as compared to previous figures with 54% decline, having strong influence from lower sales recognition of trading properties and lower rental income.

On the other hand, earnings per share for the quarter , except fair gains on investment properties with a total of 4% from 7.2 cents , one year ago, and including the fair value gains for the quarter was 9.9 cents. The figures were observed 8 cents up from a year ago. During the ending time of trading day, the UIC's share prices were closed at S$2.75 per share, having a down fall of 3.2% than previous day.

In addition, the Singapore Land reflected fair value gains on investment properties of $247.6 million for Q2 2011, higher value from $10.1 million in Q2 2010. Meanwhile, another office building at Raffles Place, Clifford Centre has observed a 7.9% or $38 million hike in valuation to $520 million.