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LBS 3Q profit at RM346m on sale of subsidiaries

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LBS 3Q profit at RM346m on sale of subsidiaries Empty LBS 3Q profit at RM346m on sale of subsidiaries

Post by Cals Wed 27 Nov 2013, 22:21

LBS 3Q profit at RM346m on sale of subsidiaries
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com   
Wednesday, 27 November 2013 20:13
KUALA LUMPUR (Nov 27): LBS Bina Group Bhd said its net profit for the third quarter to September soared to RM346.3 million, a leap from RM10.3 million in the third quarter of last year.

But it recorded lower revenue of RM135 million, compared to RM147.3 million a year ago.

For the 9 months ended 30 September 2013, the group recorded revenue of RM377.4 million and net profit of RM373.2 million.

In a statement, LBS said the vast improvement in profit for the third quarter and nine months was mainly due to the gain from the disposal of subsidiaries and profit contribution from on-going property projects.
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