KUALA LUMPUR (Feb 28): UEM LAND HOLDINGS BHD [] posted a 3.84% increase in earnings to RM140.56 million for the fourth quarter ended Dec 31, 2011, from RM135.36 million, due to improved performance from the group's various development activities.
It said on Tuesday, that the board was confident of the group’s prospects in the coming financial year as the on-going projects had unbilled sales of RM1.85 billion as at Dec 31, 2011.
“The profits from these future billings will be recognised substantially over the next two financial years. The group will also be launching several residential and commercial projects in the Klang Valley, Cyberjaya and Nusajaya in 2012. These projects will ensure the groups’ profitability is sustainable in the near future,” it said.
UEM Land’s 4Q11 revenue soared 115.22% to RM597.80 million from RM277.76 million. Earnings per share were 3.25 sen compared to 3.72 sen a year ago.
The higher contributions were attributed to improved performance to the group's activities in SiLC, East Ledang, Nusa Idaman, Nusa Bayu and Symphony Hills. The quarter also saw the consolidation of results from SUNRISE BHD [], as a factor to its increased earnings.
For the financial year ended Dec 31, 2011, revenue rose 261.7% to RM1.70 billion compared to RM471.14 million the previous year, while profits were up 55.1% to RM301.71 million from RM194.54 million.
It said on Tuesday, that the board was confident of the group’s prospects in the coming financial year as the on-going projects had unbilled sales of RM1.85 billion as at Dec 31, 2011.
“The profits from these future billings will be recognised substantially over the next two financial years. The group will also be launching several residential and commercial projects in the Klang Valley, Cyberjaya and Nusajaya in 2012. These projects will ensure the groups’ profitability is sustainable in the near future,” it said.
UEM Land’s 4Q11 revenue soared 115.22% to RM597.80 million from RM277.76 million. Earnings per share were 3.25 sen compared to 3.72 sen a year ago.
The higher contributions were attributed to improved performance to the group's activities in SiLC, East Ledang, Nusa Idaman, Nusa Bayu and Symphony Hills. The quarter also saw the consolidation of results from SUNRISE BHD [], as a factor to its increased earnings.
For the financial year ended Dec 31, 2011, revenue rose 261.7% to RM1.70 billion compared to RM471.14 million the previous year, while profits were up 55.1% to RM301.71 million from RM194.54 million.
