KUALA LUMPUR: UOA Development Bhd
posted a higher net profit of RM287.30 million for the financial year ended Dec 31, 2024 (FY2024) from RM279.55 million in FY2023.
Revenue also increased to RM545.70 million from RM399.39 million previously, mainly due to higher progressive recognition from the group’s on-going development projects, it said in a filing with Bursa Malaysia today.
In the fourth quarter of FY 2024 (4Q 2024), the property development group's net profit also rose to RM128.21 million from RM118.72 million 4Q 2023, while revenue improved to RM234.86 million compared to RM109.01 previously.
The group attributed its revenue for the quarter under review to the progressive recognition of the on-going development projects, namely Bamboo Hills Residences, Laurel Residence, Aster Hill and a medical centre in Bangsar South.
On prospects, UOA said the group will continue to explore strategic development lands that meet its objectives.
The total new property sales for the period ended Dec 31, 2024 was approximately RM1.0 billion -- mainly derived from Bamboo Hills Residences, Aster Hill, Duo Tower and Laurel Residence.
"The total unbilled sales as at Dec 31, 2024, amounted to approximately RM837.4 million," it said.
Meanwhile, UOA has proposed a final single-tier dividend of 10 sen per share in respect of FY2024, amounting to a net dividend payable of RM262.38 million. - Bernama
