Results: P&O Q3 profit swells to RM23m

# Pacific and Orient Bhd's pre-tax profit for the third quarter ended June 30, 2011 rose to RM22.55 million from RM15.4 million in the corresponding quarter of 2010.

Revenue increased to RM129.35 million from RM109.7 million previously due to higher gross premium recorded by the insurance unit, it said in a filing to Bursa Malaysia today.

Going forward, the company said the performance for the remaining period of the current financial year was expected to be better than that of the previous year despite the challenges in the local operating environment and the uncertainties surrounding the global economy.

# GW Plastics Holdings Bhd's pre-tax profit for the second quarter ended June 30, 2011 increased slightly to RM5.407 million from RM5.37 million in the previous corresponding quarter.

Its revenue rose to RM87.05 million from RM80.58 million, it said in a statement today.

GW Plastics said the higher revenue was mainly due to higher sales arising from the commissioning of a new cast film extruder.

However, despite the increase in revenue, pre-tax profit for the current quarter was only marginally higher as a result of higher resin price.

The group, having implemented measures to increase operational efficiencies and value-added activities, expects to remain competitive and foresees a satisfactory performance for the full year.

# Delloyd Ventures Bhd recorded a pre-tax profit of RM20.046 million for the first quarter ended June 30, 2011 on the back of a revenue of RM122.123 million.

In a filing to Bursa Malaysia today, the company said its revenue and earnings in the automotive sector remained healthy, backed by strong demand.

It said the plantation sector also remained positive despite a drop in output due to the low season coupled with a decline in crude palm oil prices.

During the quarter, Delloyd said the Rupiah strengthened further against the Ringgit resulting in an unrealised gain on\ conversion of inter-company balances.

There was no comparison made with the previous corresponding quarter due to the change of financial year end from December 31 to March 31 during the year.

# CCK Consolidated Holdings Bhd posted a lower pre-tax profit of RM4.760 million for the fourth quarter ended June 30, 2011 from RM5.782 million recorded in the same quarter last year.

However, its revenue rose to RM93.690 million from RM77.871 million recorded previously.

In a filing to Bursa Malaysia today, the company said the lower pre-tax profit was due to higher operational expenses, including start-up costs for a subsidiary company that commenced operation, as well as the increase in feed prices.

# Yee Lee Corporation Bhd (YEELEE), has recorded a lower pre-tax profit of RM5.46 million for its second quarter ended June 30, 2011 compared to RM6.58 million in the same quarter last year.

Revenue however rose to RM215.26 million from RM188.87 million in the previous corresponding quarter.

For its cumulative period ended June 30, 2011, the company also registered alower profit before tax of RM10.74 million, compared to RM13.63 million recorded in the previous corresponding period ended June 30, 2011.

Revenue rose to RM426.69 million compared to RM380.22 million previously.

In a filing to Bursa Malaysia today, the company said the higher revenue for the period was mainly due to higher sales of palm-based products, arising from increases in crude palm oil price, higher sales from aerosol cans and other agency products such as Campbell, Procter and Gamble and Red Bull.

For the lower pre-tax profit, the company said this was attributed to increases in raw material prices, coupled with stiff competition and devaluation of Dong currency in Vietnam.

# A&M Reality Bhd (A&M) has reported a higher profit before tax of RM9.31 million for its second quarter ended June 30, 2011, compared to RM3.28 million in the same quarter last year.

Revenue, however, decreased to RM28.23 million from RM37.47 million in the previous corresponding quarter.

For its cumulative period ended June 30, 2011, the company also registered a higher profit before tax of RM14.37 million, compared to the RM6.99 million recorded in the previous corresponding period ended June 30, 2011.

Revenue on the other hand dropped to RM57.68 million compared to RM71.26 million previously.

The company said the lower revenue was attributable to the lower revenue being recognised by the Property and Construction division, following the completion of certain ongoing projects. -- Bernama