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Gadang 3Q profit multiplies 5.3 times to RM19.2m

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Gadang 3Q profit multiplies 5.3 times to RM19.2m Empty Gadang 3Q profit multiplies 5.3 times to RM19.2m

Post by Cals Fri 25 Apr 2014, 02:15

Gadang 3Q profit multiplies 5.3 times to RM19.2m
Business & Markets 2014
Written by Jeffrey Tan of theedgemalaysia.com   
Thursday, 24 April 2014 18:58

KUALA LUMPUR (Apr 24): Gadang Holdings Bhd’s net profit multiplied 5.3 times to RM19.2 million in the third quarter ended Feb 28, 2014, from RM3.6 million a year earlier.

Revenue soared 67.8% year-on-year to RM147.5 million from RM87.9 million.

In a filing with the stock exchange, the property developer and builder attributed the larger net profit and higher revenue to higher contributions and better margins from construction and property activities.

For the nine-month period, net profit chalked RM34.6 million versus RM18.4 million in the previous corresponding period, while revenue registered RM401.9 million from RM259.1 million.

Gadang said the larger net profit and higher revenue were similarly due to higher contributions and margins from business activites.

“The board expects the performance for the current financial year to be better than that achieved in the previous financial year due to the strong earnings contribution of both the construction and the property divisions,” said Gadang on prospects ahead.
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