UOA Development 3Q net profit jumps 190.2 pct to RM96.19 mln

KUALA LUMPUR: UOA Development Bhd’s net profit jumped 190.2 per cent to RM96.19 million in the third quarter ended Sept 30, 2022 (3Q22) from RM33.15 million in the same period last year.

In a filing with Bursa Malaysia, the property developer said its revenue also increased to RM163.44 million from RM54.58 million previously.

It said the group’s revenue and profit for the quarter under review were mainly derived from the progressive recognition of the group’s ongoing development project namely Laurel Residence, and the sales of stocks mainly from The Goodwood Residence, Aster Green Residence and United Point Residence.

New property sales for the period ended Sept 30, 2022 was approximately RM480.1 million, mainly derived from Laurel Residence, The Goodwood Residence and United Point Residence.

Meanwhile the total unbilled sales as at Sept 30, 2022 amounted to approximately RM181.1 million.

The group will continue to explore strategic development lands that meet the objectives of the group, it added. — Bernama