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NewsGlomac 2Q profit jumps 64% yoy to RM39m
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Glomac 2Q profit jumps 64% yoy to RM39m
by hlk Tue 03 Dec 2013, 19:51
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com
Tuesday, 03 December 2013 18:42
A + A - Reset
KUALA LUMPUR (Dec 3): Glomac Bhd’s net profit jumped 64% year-on-year
(y-o-y) to RM39 million in the second quarter ended Oct 31, 2013.
Revenue also increased 25% y-o-y to RM156 million.
In a statement to Bursa Malaysia, the property developer said its higher profit
and revenue is due to continued contribution by projects in Puchong Lakeside
Residences, Glomac Rawang, Glomac Centro and Cyberjaya 2.
Glomac said the profit attributable to owners increased mainly due to higher
share of profit from gain on disposal of investment properties recorded at the
associated company.
For the half-year period, profit earned was RM63 million, up from RM45 million
a year earlier, while revenue generated was RM318 million versus RM285
million in the previous corresponding period.
Looking ahead, Glomac said the group’s performance is expected to improve
for the financial year ending April 30, 2014, based on the on-going development
projects barring any unforeseen circumstances.
Written by Jeffrey Tan of theedgemalaysia.com
Tuesday, 03 December 2013 18:42
A + A - Reset
KUALA LUMPUR (Dec 3): Glomac Bhd’s net profit jumped 64% year-on-year
(y-o-y) to RM39 million in the second quarter ended Oct 31, 2013.
Revenue also increased 25% y-o-y to RM156 million.
In a statement to Bursa Malaysia, the property developer said its higher profit
and revenue is due to continued contribution by projects in Puchong Lakeside
Residences, Glomac Rawang, Glomac Centro and Cyberjaya 2.
Glomac said the profit attributable to owners increased mainly due to higher
share of profit from gain on disposal of investment properties recorded at the
associated company.
For the half-year period, profit earned was RM63 million, up from RM45 million
a year earlier, while revenue generated was RM318 million versus RM285
million in the previous corresponding period.
Looking ahead, Glomac said the group’s performance is expected to improve
for the financial year ending April 30, 2014, based on the on-going development
projects barring any unforeseen circumstances.
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