UOB Development Q2 net profit rises to RM63.87m

KUALA LUMPUR: UOA Development Bhd’s net profit for the second quarter ended June 30, 2023, has increased to RM63.87 million from RM45.30 million last year while revenue eased to RM98.10 million from RM121.11 million previously.

In a Bursa Malaysia filing yesterday, the property investment and development group said revenue was mainly derived from the progressive recognition of the ongoing development projects, namely Laurel Residence and Aster Hill.

“The sales of stocks, mainly from The Goodwood Residence and United Point Residence, also contributed to revenue,” it said.

On prospects, it said total new property sales for the period ended June 30, 2023, was approximately RM303 million and was mainly derived from The Goodwood Residence, Aster Hill, Laurel Residence and United Point Residence.

The total unbilled sales as at June 30, 2023, amounted to approximately RM285.2 million. The group will continue to explore strategic development land that meets the group’s objectives, it said.

The board declared a first interim single-tier dividend for the financial year ending Dec 31, 2023, of 20 sen per ordinary share, to be paid at a date to be determined later. – Bernama