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Crescendo 2Q net profit jumps 175% yoy

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Crescendo 2Q net profit jumps 175% yoy Empty Crescendo 2Q net profit jumps 175% yoy

Post by Cals Fri 27 Sep 2013, 22:50

Crescendo 2Q net profit jumps 175% yoy
Business & Markets 2013
Written by Cynthia Blemin of theedgemalaysia.com   
Friday, 27 September 2013 19:05
KUALA LUMPUR (Sept 27): Net profit for CRESCENDO CORPORATION BHD [] jumped 175.5% year on year to RM25.9 million for the second quarter ended July 31, 2013, from RM9.4 million a year ago, mainly due to higher contribution from its industrial property sales.
Revenue rose by 20.5% to RM86.7 million for the period under review versus RM72 million for the previous corresponding period.
In a filing to Bursa today, Crescendo said property development and CONSTRUCTION [] operation remains as its main profit contributor
“The higher profit margin was mainly due to change in sales mix with higher contribution from high margin industrial property sales,” it said.
It noted that the sector performed well with the operating profit for the current quarter and first half of financial year 2014 increased 145% and 85% respectively as compared to the corresponding periods in last year.
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