Hua Yang Q1 earnings up 43.4% to RM16.47m (5062)

KUALA LUMPUR: Hua Yang Bhd's
earnings rose 43.4% to RM16.47mil in the first quarter ended June 30,
2012 from RM11.48mil a year ago due to the steady recognition of
projects in progress.
It announced on Wednesday that revenue
increased by a stronger pace of 58.6% to RM97.96mil from RM61.75mil.
Its earnings per share were 11.44 sen compared with 7.97 sen.
"The
strong growth is due to steady recognition of construction progress
from the group's projects nationwide as well as new sales from products
that have been launched," it said. Hua Yang also said the group also
had an undeveloped landbank of 764 acres with an estimated gross
development value (GDV) of RM2.2bil in the Klang Valley, Johor, Perak
and Negeri Sembilan. "Internally, the group aims to reach a revenue
target of RM500mil by 2014 and RM800min by 2018," it said, adding that
its gearing ratio was 0.32 times.

patut kena goreng up ... tmr hw ? chiong or sell on news ?