UOA Devt Q2 earnings jump 75%, records RM900m sales (5200)

by **hlk** Thu 23 Aug 2012, 19:50

KUALA LUMPUR: UOA Developments Bhd posted a strong set of results for the second quarter ended June 30, 2012, with earnings up 75.5% to RM104.97mil from RM59.78mil while it recorded RM900mil in sales in the first half. It said on Thursday its revenue increased by 13.9% to RM197.46mil from RM173.33mil a year ago. Its earnings per share improved to 9.0 sen from 6.0 sen.

However, its earnings for the six-months ended June 30 fell 23.1% to RM145.92mil from RM189.83mil due to the weaker first quarter. Its revenue rose 8.3% to RM345.53mil from RM319.06mil.

"UOA sets all time record sales of RM900mil six months into FY2012, substantially surpassing the full year figure of RM848.0mil in 2011," it said.

UOA Devt said the strong sales were boosted by the good take-up rate of the its 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.

"Moving forward, UOA intends to capitalise on its strong balance sheet to further acquire strategic development lands in Kuala Lumpur," it said.

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

"These development projects have a total gross development value in excess of RM2bil and are expected to substantially increase new sales for 2012," it said.