United Overseas Australia (UOS) H2 2024 earnings summary

Executive summary

• Achieved profit after tax and minority interest of $91.6 million for FY2024, up 15.6% year-over-year.

• Revenue for FY2024 was $384.1 million, a 20% increase compared to $319.4 million in FY2023.

• Final dividend of 2.0 cents per share declared, total dividends for the year at 2.5 cents per share.

• Launched major projects in Kuala Lumpur: Duo Tower and Bamboo Hills Residences.

Financial highlights

• Net profit attributable to owners: $91.6 million (FY2023: $79.2 million).

• Total comprehensive income: $331.5 million (FY2023: $60.9 million), driven by strong FX gains.

• Basic EPS: 5.58 cents (FY2023: 5.00 cents).

• Cash and cash equivalents at year-end: $803.4 million (FY2023: $743.7 million).

• Net assets increased to $2.90 billion (FY2023: $2.51 billion).

Outlook and guidance

• Cautiously optimistic on economic outlook, maintaining financial discipline.

• Focus remains on ongoing projects in Klang Valley, leveraging demand for residential and commercial developments.

• Intends to use cash surpluses to repay debt and internally fund construction, with no plans to increase gearing.