UOA net profit up on higher property sales

PETALING JAYA: UOA Development Bhd’s net profit for its third quarter ended Sept 30, jumped 54% to RM158.5mil compared with RM102.9mil in the same period last year due to higher sales from its property projects.

Revenue for the period rose 41% to RM492.2mil from RM349.9mil a year ago.

For its nine months to-date, earnings rose 34% to RM305.9mil from RM227.7mil a year ago while revenue shot up 61% to RM1.23bil from RM774mil the same period last year.

In a statement, the property developer said the higher revenue was from the sales of Desa Green, South View Serviced Apartments, The Vertical Corporate Tower, Scenaria@North Kiara Hills, Southbank Residence, Desa Sentul and the recently completed The Vertical Office.

UOA recorded year-to-date new property sales of RM708mil with contributions from projects such as South View Serviced Apartments, Southbank Residence, Scenaria@North Kiara Hills, Desa Sentul, The Vertical Office Suites, The Vertical Corporate Tower and Suria@North Kiara. Unbilled sales stood at about RM1.5bil as of Sept 30.

While there was no major project launch in the third quarter of 2015, the property sales continued to improve from sale of existing projects, bringing the nine months to-date total property sales to about RM708.4mil.

Apart from Suria @ North Kiara, the third quarter property sales were mainly from the existing projects including Southbank Residence and Scenaria @ North Kiara Hills, which is expected to complete in 2015.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Business , uoa , results , property , sales , stocks , shares , klci , klse ,


Next In Business News

Wall St opens higher as rate hike pause hopes grow
Accenture cuts jobs, trims forecasts on worries of lower IT spending
US weekly jobless claims edge lower
Ringgit rallies against US dollar after Fed signals a more dovish stance going forward
Gamuda 2Q net profit rises to RM194.62mil
Straits Energy associate firm CBL International to be listed n Nasdaq
SunCon wins RM604.9mil RTS Link Project
TNB appoints Abdul Razak Abdul Majid as chairman
Etiqa, first local insurer to sign on to UN Principles for Sustainable Insurance
Yinson 4Q net profit jumps more than two-fold to RM168mil

Others Also Read