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  • UEM Sunrise Shares Up After Profit Doubles
  • UEM Sunrise shares up after profit doubles

    KUALA LUMPUR: UEM Sunrise Bhd’s shares rose at midmorning on Tuesday after the group posted a strong set of quarterly results on Monday.

    At 10.42am, its shares were up four sen to RM2.29 with some 3.79 million done between RM2.28 and RM2.32.

    The FBM KLCI was up 2.95 to 1,800.92. Turnover was 785.42 million valued at RM363.29mil. There were 241 gainers, 279 decliners and 306 counters unchanged.

    UEM Sunrise’s third quarter net earnings doubled to RM182.76mil from RM85.32mil a year ago due to completion of its land sales.

    Its revenue for the quarter rose 60% to RM694.15mil from RM433.38mil a year ago while earnings per share stood at 4.20 sen from 1.97 sen a year ago.

    For its nine months 2013, the group’s profit also doubled to RM501.18mil from RM247.08mil a year ago while revenue jumped 51% to RM1.894bil from RM1.247bil a year ago.

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