UEM Land Holdings’ 3Q net profit surges to RM7.54 mil

KUALA LUMPUR: UEM Land Holdings Bhd’s net profit for its third quarter ended Sept 30, 2009 (1QFY2009) surged almost five-fold to RM7.54 million, from RM1.1 million the previous year, on higher contribution from the share of results of associates and joint ventures.

Its 3QFY2009 revenue, meanwhile, dipped 7.1% to RM72.8 million, from RM78.4 million a year earlier, due to lower strategic land sales but it was mitigated by higher overall property development sales. 

The group, however, does not expect to achieve its KPI targets of revenue growth of 20% and return on equity (ROE) of 6% for the current financial year, despite improving performance due to global economic uncertainties.

Its basic earnings per share jumped to 0.31 sen for 3QFY2009, from 0.05 sen the previous year. No dividend was declared.
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