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Friday, February 24, 2012

UOA net profit up on fair value gains

PETALING JAYA: UOA Development Bhd posted a 151% quarter-on-quarter jump in net profit to RM139.4mil for its fourth quarter ended Dec 31, 2011, compared with RM55.5mil in the preceding quarter.

The property developer, which was listed in June last year, told Bursa Malaysia that the increase was mainly due to fair value gains recognised on investment properties. Revenue for the quarter under review was RM137.5mil.

For the financial year ended Dec 31, 2011, UOA Development recorded a net profit of RM384.8mil on revenue of RM613.6mil.

By The Star

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