UOA revenue up 41% on new developments in Kuala Lumpur

PETALING JAYA (Nov 24): UOA Development Bhd’s revenue in 3Q2015 ended September 30, 2015, increased 41% to RM 492.2 million from RM 349.9 million quarter on quarter.

The group recorded a profit after tax of RM 158.5 million, a 54% increment from a year ago.

Total revenue for first nine months ended 30 September 2015 was RM 1.13 billion, a 52% increase from the RM 744.1 million in the same period of the preceding year, said UOA in a press release.

“The higher revenue was achieved based on the progressive recognition 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 Suites,” it said.

UOA commented that 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 contributed to UOA’s year-to-date new property sales of RM 708 million.

UOA’s unbilled sales stood at approximately RM1.5 billion as at September 30, 2015.