Bursa Alert
Global Market
NewsGuocoland’s 1Q net profit plunges 79%
Page 1 of 1
Guocoland’s 1Q net profit plunges 79%
by Cals Tue 14 Oct 2014, 23:56
Guocoland’s 1Q net profit plunges 79%
By Chester Tay / TheEdge Markets.com | October 14, 2014 : 8:29 PM MYT
KUALA LUMPUR (Oct 14): Property developer Guocoland (Malaysia) Bhd ( Financial Dashboard) saw its net profit plunge 78.5% to RM2.78 million for the first financial quarter ended Sept 30, 2014 (1QFY15) from RM12.94 million a year ago, mainly due to lower contribution from its commercial project in PJ City, Old Klang Road and its residential project in Kajang, Selangor.
Revenue for 1QFY15 also fell 53% to RM28.5 million from RM61.04 million a year ago. Earnings per share (EPS) for 1QFY15 was 0.42 sen compared with 1.93 sen in 1QFY14.
On a quarter-on-quarter basis, its net profit fell 97.5% from RM112.32 million in 4QFY14 as the April-June period had the benefit of a net fair value gain of RM112.5 million on the valuation of the group’s investment properties. EPS for 4QFY14 was 16.77 sen.
Going forward, Guocoland foresees the property market outlook and sentiment to remain cautious because of credit tightening initiatives from Bank Negara Malaysia and interest rate increases.
“The operating performance of the group is expected to be challenging for the current financial year (ending June 30, 2015),” said Guocoland in a filing with Bursa Malaysia today.
Its shares climbed one sen or 0.66% to close at RM1.52, with a market capitalisation of RM1.06 billion.
By Chester Tay / TheEdge Markets.com | October 14, 2014 : 8:29 PM MYT
KUALA LUMPUR (Oct 14): Property developer Guocoland (Malaysia) Bhd ( Financial Dashboard) saw its net profit plunge 78.5% to RM2.78 million for the first financial quarter ended Sept 30, 2014 (1QFY15) from RM12.94 million a year ago, mainly due to lower contribution from its commercial project in PJ City, Old Klang Road and its residential project in Kajang, Selangor.
Revenue for 1QFY15 also fell 53% to RM28.5 million from RM61.04 million a year ago. Earnings per share (EPS) for 1QFY15 was 0.42 sen compared with 1.93 sen in 1QFY14.
On a quarter-on-quarter basis, its net profit fell 97.5% from RM112.32 million in 4QFY14 as the April-June period had the benefit of a net fair value gain of RM112.5 million on the valuation of the group’s investment properties. EPS for 4QFY14 was 16.77 sen.
Going forward, Guocoland foresees the property market outlook and sentiment to remain cautious because of credit tightening initiatives from Bank Negara Malaysia and interest rate increases.
“The operating performance of the group is expected to be challenging for the current financial year (ending June 30, 2015),” said Guocoland in a filing with Bursa Malaysia today.
Its shares climbed one sen or 0.66% to close at RM1.52, with a market capitalisation of RM1.06 billion.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Melati Ehsan 3QFY15 net profit plunges 87.6% on lower operating profit
» Highlight MMC 4Q net profit falls 49% y-o-y; FY2013 profit plunges 75%
» Guocoland Q1 net profit surges 232%
» Guocoland 4Q net profit increases 94.6% to RM22.34m
» Guocoland 4Q profit jumps on hefty revaluation gain of RM112.5 mil
» Highlight MMC 4Q net profit falls 49% y-o-y; FY2013 profit plunges 75%
» Guocoland Q1 net profit surges 232%
» Guocoland 4Q net profit increases 94.6% to RM22.34m
» Guocoland 4Q profit jumps on hefty revaluation gain of RM112.5 mil
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|