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NewsHua Yang 3Q profit flat at RM19.7m, to give 5 sen div
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Hua Yang 3Q profit flat at RM19.7m, to give 5 sen div
by Cals Wed 22 Jan 2014, 19:15
| Hua Yang 3Q profit flat at RM19.7m, to give 5 sen div |
| Business & Markets 2014 |
| Written by Ho Wah Foon of theedgemalaysia.com |
| Wednesday, 22 January 2014 18:33 |
KUALA LUMPUR (Jan 22): Hua Yang Bhd posted a net profit of RM19.7 million for the third quarter to end-December 2013, which is slightly lower than RM19.9 million in similar quarter a year ago.
The company declared an interim single tier dividend of 5 sen per share, to be paid at a date to be announced later.
Revenue for the third quarter, however, rose to RM129.9 million from RM104.6 million, due to more property launches, the company told Bursa Malaysia.
Profit was lower due to higher sales and marketing expenses incurred for the newly launched property projects, it added.
For the nine months to December 2013, net profits for three quarters totalled RM44.4 million while revenue totalled RM311.6 million. For the previous year nine-months, profits totalled RM53.5 million while revenue stood at RM306.3 million.
The mid-sized property development company said despite the new property cooling measures, it “remains positive” of posting improved results for the financial year ending 31 March 2014.
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