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NewsUpdate OSK Property Q2 net profit soars 143% to RM27.32mil
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Update OSK Property Q2 net profit soars 143% to RM27.32mil
by Cals Fri 15 Aug 2014, 00:53
| Update OSK Property Q2 net profit soars 143% to RM27.32mil |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Thursday, 14 August 2014 21:07 KUALA LUMPUR (Aug 14): OSK Property Holdings Bhd's net profit for the second quarter ended June 30, 2014 (2QFY14) rose 143% to RM27.32 million, from RM11.24 million a year ago. Revenue for 2QFY14 rose 77% to RM184.03 million, from RM103.71 million. The group attributed the strong quarterly results to its construction progress for its on-going projects in Cyberjaya, Kuala Lumpur, Damansara Jaya, Sungai Buloh and Sungai Petani, Kedah. OSK Property also declared an interim dividend of 5 sen per share for the financial year ending Dec 31, 2014. The date of entitlement and date of payment of the dividend will be determined and announced in due course. Net profit for the six months period rose to RM50.19 million from RM17.58 million a year ago, while revenue was higher at RM323.75 million from RM160.60 million a year ago. On prospects, the group expects the property market to continue to be challenging, but is optimistic that it will continue to achieve satisfactory performance for the remaining 2014. “The group will also continue to leverage on its branding and successful product innovations, coupled with attractive promotional packages to market its affordably priced products in this increasingly competitive environment,” OSK Property said in a filing with Bursa Malaysia today. |
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