Malton registers higher pre-tax profit of RM111.78 mil for FY17

KUALA LUMPUR, (Aug 30): Malton Bhd registered higher pre-tax profit for the financial year ended June 30, 2017 at RM111.77 million, compared with the RM71.2 million recorded over the previous year, Bernama reported yesterday.

Revenue rose by 29.2% to RM817.08 million from RM632.21 million previously, the group said in a filing to Bursa Malaysia yesterday.

The company attributed the performance to a significant rise in property turnover and positive effect of cost saving measures and value engineering undertaken by the construction division, albeit marginally lower margins recorded by both divisions and reduction in other income Bernama reported.

Malton said its ongoing development projects, which include The Park Sky Residence and The Park 2 Residence in Bukit Jalil, will contribute to the earnings of the group for the financial year ending June 30, 2018.