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MRCB 1Q net profit more than doubled to RM12m
by Cals Tue 20 May 2014, 00:11
| MRCB 1Q net profit more than doubled to RM12m |
| Business & Markets 2014 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Monday, 19 May 2014 19:22 KUALA LUMPUR (May 19): Malaysian Resources Corporation Bhd had more than doubled its net profit to RM12.0 million for its first quarter ended March 31, 2014, from RM5.3 million a year ago. In contrast, revenue for the quarter declined by 22% to RM204.6 million from RM262.0 million in the previous year’s corresponding quarter. “The lower revenue recorded for the current quarter was mainly due to lower revenue contribution by the engineering and construction division and also the reclassification of rental revenue of Platinum Sentral to discontinuing operations,” said the company in its statement to the bourse. However, the company stated that its property development division had reported improved performance in terms of revenue and profit before tax, due to on-going property development projects of Q Sentral office and The Sentral Residence. “With the Malaysian economy positively growing by 6.2% and the group’s continuing transformation and land acquisition plans, the board is optimistic that the group is on track to achieve its objective of being a key property player and is upbeat about the prospect of improving its results moving forward,” said MRCB. |
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