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NewsCrescendo 1Q net jumps to RM10.4m on higher sales
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Crescendo 1Q net jumps to RM10.4m on higher sales
by hlk Mon 27 Jun 2011, 18:37
KUALA LUMPUR: CRESCENDO CORPORATION BHD [] net profit for the first quarter ended April 30, 2011 jumped to RM10.43 million from RM4.81 million a year earlier, due mainly to higher sales and improved margin from industrial PROPERTIES [].
Revenue for the quarter rose 16.53% to RM52.08 million from RM44.69 million. Earnings per share was 6.03 sen, while net assets per share was RM2.92.
Reviewing its performance on Monday, June 27, Crescendo said the increase in revenue was due mainly contributed from higher sales in industrial properties.
On its prospects, the company said that for the financial year 2012, the property market was expected to remain buoyant with moderately higher prices, in line with economic growth and growing interest among foreigners.
The market conditions are expected to be volatile in view of the recent nuclear crisis in Japan and political unrest in several countries in the Middle East, it said.
“The Group will continue to focus, with the encouraging locked-in sales, on the development of industrial properties at Nusa Cemerlang Industrial Park ("NCIP") located in Nusajaya in the financial year 2012.
“Barring unforeseen circumstances, the board expects the group performance to remain good for the financial year ending Jan 31, 2012,” it said.
Revenue for the quarter rose 16.53% to RM52.08 million from RM44.69 million. Earnings per share was 6.03 sen, while net assets per share was RM2.92.
Reviewing its performance on Monday, June 27, Crescendo said the increase in revenue was due mainly contributed from higher sales in industrial properties.
On its prospects, the company said that for the financial year 2012, the property market was expected to remain buoyant with moderately higher prices, in line with economic growth and growing interest among foreigners.
The market conditions are expected to be volatile in view of the recent nuclear crisis in Japan and political unrest in several countries in the Middle East, it said.
“The Group will continue to focus, with the encouraging locked-in sales, on the development of industrial properties at Nusa Cemerlang Industrial Park ("NCIP") located in Nusajaya in the financial year 2012.
“Barring unforeseen circumstances, the board expects the group performance to remain good for the financial year ending Jan 31, 2012,” it said.
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