UOA sees growth in revenue with increasing sales

KUALA LUMPUR: UOA Development Bhd ( UOA) yesterday announced its financial results for the fourth quarter ended December 31, 2012 with growth in revenue at RM171.3 million, marking an increase quarter on quarter (q-o-q) by 25 per cent.

According to the group in a press release, the current quarter’s profit after tax of RM71.5 million ( excluding fair value gains recognised from revaluation of investment properties) was 129 per cent higher than the corresponding quarter of the preceding year.

UOA added that its year- todate revenue and profit before tax stood at RM799.2 million and RM414.2 million respectively.

UOA also set record sales of RM1.71 billion for the year ended December 31, 2012, substantially higher compared with RM848 million in 2011.

“Development projects such as Le Yuan Residence in Happy Garden, Scenaria at North Kiara, The Vertical Office Suites and the sale of The Horizon Boutique Office Towers in Bangsar South have contributed to the strong sales,” it added.

“UOA maintains a strong balance sheet position with cash and equivalent of RM379.2 million as at December 31, 2012.

“In the pipeline for FY2013 are various UOA’s projects including Desa Green in Taman Desa, Kencana Square in Subang and South View Residence with a total gross development value in excess of RM3.7 billion which are expected to substantially contribute to the new sales.”