UEM Land's pre-tax profit rises to RM205.5 million

KUALA LUMPUR: UEM Land Holdings Bhd's pre-tax profit for financial year ended Dec 31, 2010 rose to RM205.507 million from RM129.582 million in same period in 2009.

Its revenue advanced to RM469.713 million from RM407.913 million previously, it said in a filing to Bursa Malaysia on Feb 25.

For the fourth quarter ended Dec 31, 2010, its pre-tax profit rose to RM146.269 million from RM106.258 million in the same quarter of 2009. Its revenue increased to RM276.337 million from RM209.924 million
previously.

On outlook for the current financial year, it said the business environment for the property industry appeared to be strengthening with the gradual improvement of the economy.

"With the size and scale achieved via the synergistic combination of UEM Land Group's existing property businesses and those of the Sunrise Group, the enlarged UEM Land Group is anticipated to be in a better position to capitalise on the upward trend of the property industry," it said. -- Bernama