UEM Land’s FY2012 pre-tax profit rises to RM535m

KUALA LUMPUR, Feb 21 – UEM Land Holdings Bhd’s pre-tax profit for the financial year ended Dec 31, 2012, rose to RM535.13 million from the RM355.24 million recorded in the same period of last year.

Revenue for the period rose to RM1.93 billion from RM1.7 billion, attributed to increased sales and higher progress claims from ongoing property developments, it said in a filing to Bursa Malaysia today.

“The higher pre-tax profit was in line with higher revenue as well as higher contribution from our associates and joint ventures,” it added.

Going forward, it said with unbilled sales from ongoing projects as at Dec 31, 2012 of RM2.3 billion, the company is optimistic of prospects in 2013 and the ability to improve on the previous year’s financial performance. – Bernama