UOA Development 2Q profit up 4.2% as revenue surges 70% on Bamboo Hills, Aster Hill

UOA Development Bhd posted a 4.2 per cent rise in second-quarter net profit to RM95.59 million, as revenue jumped 69.9 per cent to RM221.20 million. The growth came from progressive recognition of Bamboo Hills Residences, Aster Hill, Duo Tower and Aethera Residences.

PETALING JAYA (Aug 26): UOA Development Bhd’s net profit attributable to shareholders rose 4.2 per cent year on year to RM95.59 million for the second quarter ended June 30, 2026 (2QFY2026), supported by sharply higher revenue from the progressive recognition of its ongoing property developments.

Revenue surged 69.9 per cent to RM221.20 million from RM130.16 million in the corresponding quarter a year earlier. Profit before tax increased 20.7 per cent to RM131.51 million from RM108.99 million, while earnings per share edged up to 3.60 sen from 3.50 sen.

In its quarterly report lodged with Bursa Malaysia on Wednesday (Aug 26), the group said revenue was mainly derived from progressive recognition of Bamboo Hills Residences, Aster Hill and Duo Tower. An accompanying media release also named Aethera Residences as a contributor to quarterly revenue and earnings.

Against the immediately preceding quarter, UOA Development’s revenue almost doubled from RM113.86 million, while profit before tax jumped 145.9 per cent from RM53.49 million. The group attributed the stronger sequential performance mainly to higher progressive recognition from Aster Hill and sales from the newly launched Aethera Residences.

For the first half ended June 30, 2026 (1HFY2026), net profit attributable to shareholders fell 17 per cent to RM137.53 million from RM165.66 million a year earlier, even as revenue grew 18.7 per cent to RM335.06 million from RM282.27 million. First-half profit before tax declined 8.8 per cent to RM185 million from RM202.91 million, while earnings per share fell to 5.18 sen from 6.31 sen.

UOA Development said new property sales totalled RM316.7 million in the first half, mainly generated by Aethera Residences, Aster Hill, Bamboo Hills Residences and Duo Tower. Unbilled sales stood at RM576.6 million as at June 30 and are expected to be recognised progressively in line with construction progress.

The group had no borrowings or debt securities as at the date of the report. Cash and cash equivalents stood at RM1.73 billion at end-June, down from RM1.91 billion a year earlier. The board did not recommend a dividend for the quarter.