United Overseas Australia Ltd (AU:UOS) has released an update.
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UOA Development Bhd, a subsidiary of United Overseas Australia Ltd, reported a first-quarter revenue of RM70.3 million, down from RM85.2 million the previous year, with a profit after tax of RM49.7 million. Despite the revenue drop, profits increased from the previous year’s RM46.1 million, thanks to the success of their development projects Laurel Residence and Aster Hill. The company also posted new property sales of RM120.9 million and has RM311.7 million in unbilled sales as of the quarter’s end.
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