Amanah Harta Tanah PNB net profit doubles

KUALA LUMPUR: Amanah Harta Tanah PNB's net profit doubled to RM4 million in its fourth quarter ended Dec 31, 2010 (4QFY2010), from RM1.54 million the previous year, on higher revenue

In a filing to Bursa Malaysia on Friday, Jan 28, the trust reported revenue of RM5.77 million, up 62% to RM3.55 million a year earlier.

"Total expenditure for the quarter under review was RM1.803 million, representing a decrease of RM0.205 million or 10.21% from RM2.008 million recorded in the corresponding period in 2009. The decrease of RM0.361 million was mainly attributed to the decrease in borrowing cost from RM0.370 million recorded in the corresponding period in 2009," it added.

Its basic earnings per share stood at 3.97 sen, compared to 1.54 sen the previous year. It declared a final income distribution of 3.60 sen a unit, tax exempt at trust level, for the year ended Dec 31, 2010 (FY2010).

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