Malton 3Q net profit jumps to RM5.2m on higher billings

KUALA LUMPUR (May 27): Property developer Malton Bhd recorded a 95.4% jump in net profit for its third financial quarter ended March 31, 2015 (3QFY15) to RM5.21 million, or 1.16 sen per share, from RM2.67 million, or 0.64 sen per share, in 3QFY14, attributed to the higher billings from its Bukit Jalil City project in Kuala Lumpur and SK One Residence project in Seri Kembangan.

However, its net profit for the nine months ended March 31, 2015 (9MFY15) fell by 38.8% to RM26.42 million or 6.08 sen per share, from RM43.19 million or 10.33 sen per share in the same period a year ago.

Malton recorded a revenue of RM132.14 million in 3QFY15, 29% higher than its 3QFY14 revenue of RM102.62 million as a result of its higher billings from the Bukit Jalil and SK One projects.

For 9MFY15, Malton recorded a revenue of RM354.92 million which was 10.9% lower than its 9MFY14 revenue of RM398.14 million.

The group did not declare any interim dividend.

Malton shares closed unchanged at 90 sen today with a market capitalisation of RM403.57 million.