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NewsGuocoland Q1 net profit surges 232%
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Guocoland Q1 net profit surges 232%
by Cals Tue 22 Oct 2013, 09:06
Guocoland Q1 net profit surges 232%
Posted on 22 October 2013 - 05:39am
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PETALING JAYA (Oct 22, 2013): Guocoland (Malaysia) Bhd saw a more than three-fold jump in net profit at RM12.94 million for the first quarter ended Sept 30, 2013 (Q1) from RM3.9 million a year ago, due to higher contribution from its property development projects on the back of higher revenue recognised.
Revenue for Q1 rose 61% to RM61.04 million from RM37.99 million.
In a filing with Bursa Malaysia yesterday, Guocoland said the increase in revenue was due to revenue recognised from the on-going projects PJ City and the newly launched project in Damansara City.
Going forward, the group expects to perform satisfactorily for the current financial year ending June 30, 2014.
"The property sector is expected to experience slower growth amid volatile and uncertain economic environment. Notwithstanding the challenging environment, properties in selected segments and good location will continue to attract interest.
"The prospects of the group are expected to be positive on the back of planned launches and continued contribution from the operations of associates and jointly controlled entities as well as the hotel segment," it added.
[You must be registered and logged in to see this link.]
PETALING JAYA (Oct 22, 2013): Guocoland (Malaysia) Bhd saw a more than three-fold jump in net profit at RM12.94 million for the first quarter ended Sept 30, 2013 (Q1) from RM3.9 million a year ago, due to higher contribution from its property development projects on the back of higher revenue recognised.
Revenue for Q1 rose 61% to RM61.04 million from RM37.99 million.
In a filing with Bursa Malaysia yesterday, Guocoland said the increase in revenue was due to revenue recognised from the on-going projects PJ City and the newly launched project in Damansara City.
Going forward, the group expects to perform satisfactorily for the current financial year ending June 30, 2014.
"The property sector is expected to experience slower growth amid volatile and uncertain economic environment. Notwithstanding the challenging environment, properties in selected segments and good location will continue to attract interest.
"The prospects of the group are expected to be positive on the back of planned launches and continued contribution from the operations of associates and jointly controlled entities as well as the hotel segment," it added.
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