UOA 2Q pre-tax profit increases to RM135.79 million

KUALA LUMPUR: UOA Development Bhd's pre-tax profit for the second quarter ended June 30, 2012 rose to RM135.79 million from RM82.18 million in the corresponding quarter of last year. Its revenue increased to RM197.46 million from RM173.33 million previously.

For the half-year period, its pre-tax profit fell to RM198.30 million from RM237.87 million in the same period of 2011. Its revenue, however, increased to RM345.54 million from RM319.065 million

In a statement on AUg 23, UOA said it set an all-time record sales of RM900 million six months into financial year 2012, substantially surpassing the full-year's RM848 million in 2011.

"The strong sales were buoyed by good take-up of the company’s new projects, The Vertical Office Suites in Bangsar South and Le Yuan Residence in Happy Garden, as well as higher sales of all existing on-going development projects, it said.

Moving forward, UOA said, it would capitalise on its strong balance sheet to further acquire strategic development land here.

It said the development projects in the pipeline for the remaining six months of 2012 included Desa Green in Taman Desa, Scenaria at North Kiara and Kencana Square in Subang.

"These development projects have a total gross development value of over RM2 billion and are expected to substantially increase new sales for 2012," it said. -- Bernama

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