UOA Development Q4 earnings 69% weaker
PETALING JAYA: UOA Development Bhd’s net profit for the fourth quarter ended Dec 31, 2020 dropped 69% to RM34.96 million from RM112.61 million a year ago mainly due to higher progressive recognition from United Point Residence in the previous year. UOA registered a revenue of RM194.11 million in the quarter,…
PETALING JAYA: UOA Development Bhd’s net profit for the fourth quarter ended Dec 31, 2020 dropped 69% to RM34.96 million from RM112.61 million a year ago mainly due to higher progressive recognition from United Point Residence in the previous year.
UOA registered a revenue of RM194.11 million in the quarter, which fell 14.5% from RM227.02 million in the same quarter last year.
The year-to-date net profit was 2% lower at RM391.29 million compared to RM399.47 million in the preceding year, while year-to-date revenue was also 24% lower at RM844.60 million.
Total dividends for FY20 ended Dec 31, 2020 include a proposed single-tier final dividend of 14 sen per share, and a proposed single-tier special dividend of 1 sen per share, subject to shareholders’ approval.
New property sales for the period ended Dec 31, 2020 was RM383.61 million, mainly derived from Aster Green Residence, The Goodwood Residence, Sentul Point and United Point Residence. The total unbilled sales as at Dec 31, 2020 amounted to RM312.3 million.
The group said it will maintain its focus on development at targeted geographical locations while exploring for strategic development lands that meets the objective of the group.