UOA Development’s Q1 net profit rises to RM59.86m
KUALA LUMPUR, May 29 ― UOA Development Bhd’s net profit rose to RM59.86 million in the first quarter ended March 31, 2019, compared with RM32.27 million in the same period a year ago.
Revenue also increased by 42.3 per cent to RM244.7 million from RM172.0 million on a year-on-year basis, it said in a filing with Bursa Malaysia today. “The group’s revenue and profit were mainly derived from the progressive recognition of its on-going development projects namely United Point Residence, Sentul Point Suite Apartments, South Link Lifestyle Apartments and sale of stocks,” it said.“The property sales for the year were derived, mainly, from South Link Lifestyle Apartments, Sentul Point Suite Apartments and United Point Residence,” the group said, adding that the total unbilled sales as of March 31, amounted to approximately RM1.
On UOA Development Bhd’s prospects, the group said it remains focused on development at targeted geographical locations and continue to assess opportunities for land acquisitions that meet the criteria. ― Bernama
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