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United Malayan Land sees revenue increase of 21% for FY2009

KUALA LUMPUR: United Malayan Land Bhd recorded a year-to-date revenue of RM208.5 million, a 21% increase, compared with the preceding y-t-d revenue of RM172.1 million. Its profit before tax (PBT) was RM62.9 million, which was an increase of 10.4%.

Meanwhile, for its 4Q2009, the group saw increased revenue of 31% compared with the corresponding quarter of the preceding year.

In its statement to Bursa Malaysia on Feb 24, the group said the significant increases in quarterly revenue and y-t-d PBT were mainly contributed by higher contributions from its township and niche divisions, as well as the completion of strategic land sales in Bandar Seri Alam.

The group will remain focused on its developments such as Bandar Seri Alam and Seri Austin in Johor and Bandar Seri Putra in Bangi, Selangor. For its current year, the group’s contribution will come mainly from the completion of Suasana Bangsar and new launches in all the three townships. “The group expects better operating results from property development even though contributions from strategic land sales will not be significant this year,” it said.

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