United Malayan Land Bhd (UMLand) has achieved RM67.5 million profit before tax (PBT) on the back of RM417 million in turnover for financial year ended 31 December 2006. This represents a growth of 94% and 83% in turnover and PBT respectively.

Ultimately, this contributed to the 37% growth in its net profit recorded at RM40.1 million.

UMLand group chief executive officer Anthony Yap said at the Annual General Meeting held yesterday that, “The revenue and profit growth can be attributed to the increase of contributions from the group’s township division, comprising Seri Alam, Seri PUtra and Seri Austin as well as its condominium project Suasana Sentral Loft.”

He also added that the group has entered into three new developments at Jalan Mayang, Bangsar and Persiaran Raja Chulan, earmarked for development of condominiums and service residences.

“The attractive locations and development potential of these niche projects is projected to contribute additional revenue of about RM1 billion to the group.”

In addition, the Group is also embarking on a branding exercise to further enhance its corporate profile to a higher level and reposition its three townships.

The Group’s focus for the year 2007 includes increasing sales and marketing efforts as well as enhancing product planning and development. This involves delivering market driven products with strict quality control, attractive designs and functional layouts coupled with efficient delivery of these products.