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NewsMah Sing 3Q profit jumps 28% yoy to RM71m
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Mah Sing 3Q profit jumps 28% yoy to RM71m
by Cals Mon 11 Nov 2013, 14:31
| Mah Sing 3Q profit jumps 28% yoy to RM71m |
| Business & Markets 2013 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Monday, 11 November 2013 13:16 |
3Q revenue also jumped 27% y-o-y to RM536 million from RM421 million.
In a filing to Bursa Malaysia, the mainly-property conglomerate said cumulative profit registered RM210 million from RM175 million, while revenue totalled RM1.4 billion versus RM1.3 billion in the previous corresponding quarter.
Mah Sing said in terms of its property development for the nine months ended Sept 30, 2013, the larger profit margin resulted from better product mix. It attributed the increase in revenue to the growing contribution from mixed developments.
The firm also said its plastics segment continued to contribute positively to the revenue and operating profit of the group. It said revenue grew as a result of higher pallet sales.
Going forward, Mah Sing said it is well placed to achieve a good performance for the current financial year.
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