UOA Dev records net profit of RM98.86mil in 4Q

TA Research said that Inta Bina was aiming to bag RM800mil worth of construction jobs this year, on the back of its RM3.6bil tender book comprising mainly residential projects.

KUALA LUMPUR: UOA Development Bhd recorded a net profit of RM98.86mil in the fourth quarter ended Dec 31, 2021, which was nearly three times the net profit of RM34.96mil in the previous corresponding quarter.

The group said revenue in the quarter under review was RM136.45mil, 29.71% lower than in the same quarter in 2020.

For the full 2021 financial year, UOA Development posted a net profit of RM222.45mil compared to RM391.29mil in the previous year.

This was on the back of lower revenue of RM547.48mil compared to RM844.6mil in 2020.

In a statement, the group said the revenue and profit were attributed mainly to the progressive recognition of the ongoing development projects, name The Goodwood Residence and Aster Green Residence..

The sale of inventories, mainly United Point Residence and Sentul Point Suite Apartments, also contributed to the revenue for the quarter under review, it said.

New property sales for the period was about RM341.2mil while total unbilled sales stood at about RM92.5mil as at end-2021.

The board of directors have proposed a first and final dividend of 10 sen per share for shareholders' approval.
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UOA Development , property


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