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NewsTambun Indah 1Q net profit soars 116% y-o-y to RM25.3m
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Tambun Indah 1Q net profit soars 116% y-o-y to RM25.3m
by Cals Mon 28 Apr 2014, 22:33
| Tambun Indah 1Q net profit soars 116% y-o-y to RM25.3m |
| Business & Markets 2014 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Monday, 28 April 2014 18:16 KUALA LUMPUR (Apr 28): Tambun Indah Land Bhd’s net profit for the first quarter (1QFY14) soared 116% year-on-year to RM25.3 million from RM11.7 million in the year before. Revenue for 1QFY14 was up 43% to RM112.0 million from RM78.3 million in 1QFY13. It attributed the improvement in its revenue and profit to better performance of its property development and property management segment. “The revenue from property development and property management activities had increased by 42.3%. “The improvement in revenue was mainly contributed by residential and commercial properties development in Pearl City, Simpang Ampat which contributed approximately 67.0% of the total revenue in the segment for current quarter in review,” said the group in its statement to the exchange. Its construction and project management segment also reported higher revenue due to higher construction progress achieved. Going forward, the group expects to achieve favourable performance for the remainder of its financial year. The group said it has achieved an average take-up rate of 84.91% for its ongoing projects, with a total GDV of RM975.67 million and unbilled sales of approximately RM469.95 million. “These should contribute positively to the group’s earnings for the next two to three years,” it said. |
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