UOA Development Bhd”s Q1 pre-tax profit rises to RM131.56 million

UOA Development Bhd''s Q1 pre-tax profit rises to RM131.56 million

KUALA LUMPUR, May 25 — UOA Development Bhd’s pre-tax profit for the first quarter ended March 31, 2016, rose to RM131.56 million from RM120.34 million in the same period last year.

In a statement today, the property developer said revenue for the quarter declined to RM201.17 million from RM313.70 million previously.

UOA Development said the revenue was achieved based on the progressive recognition from the sales of South View Serviced Apartments, Scenaria@North Kiara Hills, Southbank Residence, Desa Sentul, The Vertical Corporate Towers and Desa Green.

“New property sales for the quarter was RM170 million with contributions from projects such as Danau Kota, South View Serviced Apartments, Southbank Residence, Scenaria@North Kiara Hills, Desa Sentul, The Vertical Office Suites and Suria@North Kiara,” it said.

The company’s unbilled sales stood at RM1.1 billion in the first quarter.