Friday, August 26, 2011

UEM Land active, up on firm earnings

KUALA LUMPUR: UEM LAND HOLDINGS BHD [] shares were actively traded on Friday, Aug 26 after its net profit for the second quarter ended June 30, 2011 more than doubled to RM88.93 million from RM40.35 million a year earlier due mainly to an increase in its revenue.

At 9.18am, UEM Land added two sen to RM2.12 with 792,000 shares done.

The company said on Thursday, Aug 25 that its revenue for the quarter surged to RM509.40 million from RM88 million in 2010.

Earnings per share was 2.17 sen compared to 1.23 in 2010, while net assets per share was RM1.03.

For the six months ended June 30, UEM Land's net profit surged to RM106.54 million from RM43.49 million in 2010, on the back of a more than five-fold increase in revenue to RM697.09 million.

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