MKH'S 3Q pre-tax profit rises to RM62.63 mil

KUALA LUMPUR (Aug 26) MKH Bhd's pre-tax profit for the third  quarter ended June 30, 2016, rose to RM62.63 million from RM30.29 million in the same period last year, Bernama reported yesterday.

Revenue increased to RM282.09 million from RM255.83 million previously, the company said in a filing to Bursa Malaysia yesterday, Bernama reported.

MKH said the increase in the company's pre-tax profit and revenue was mainly due to the property and construction divisions – from current and fresh development projects.

The developer company also said that unrealised foreign exchange gains amounted to RM4.9 million, derived from the plantation division, following the strengthening of the rupiah against the Greenback.

MKH expects to achieve better results for the financial year ending Sept 30, 2016 as a result of profit recognition of ongoing projects that were launched and sales locked-in from the previous financial years.