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Atlan’s 4Q net profit rises 27% y-o-y to RM19m

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Atlan’s 4Q net profit rises 27% y-o-y to RM19m Empty Atlan’s 4Q net profit rises 27% y-o-y to RM19m

Post by Cals Tue 29 Apr 2014, 22:25

Atlan’s 4Q net profit rises 27% y-o-y to RM19m
Business & Markets 2014
Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com   
Tuesday, 29 April 2014 18:58

KUALA LUMPUR (Apr 29): Atlan Holdings Bhd reported net profit of RM19.3 million for its fourth quarter ended February 28, 2014, up 27% from RM15.1 million in the previous year’s corresponding quarter.

However, revenue for the quarter was slightly lower at RM210.8 million from RM213.6 million a year ago.

The group had attributed the higher profit for the quarter to the disposal of a parcel of land and also a reversal of impairment of assets.

For the year, net profit improved significantly to RM206.4 million from RM76.0 million in the previous year, while revenue was lower at RM765.6 million compared with RM791.6 million.

Going forward, the group expects a challenging year ahead due to the current economic outlook.

“The group will continue to focus on its core businesses whilst improving operational efficiency and cost control measures in order to remain competitive and profitable,” it said.
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