Berjaya Land posts net profit of RM15.16 million for 2Q

KUALA LUMPUR: Berjaya Land Bhd posted net profit of RM15.16 million in its second quarter ended Oct 31, 2009 (2QFY2010), compared with a net loss of RM48.5 million the previous year despite lower revenue.

In a filing to Bursa Malaysia on Dec 15, the higher profit was due to lower impairment loss on quoted investments and investment in associated companies as well as the higher profit contribution from the property development division resulting from higher property sales.

Its revenue for the quarter under review dropped 7% to RM983.1 million, from RM1.06 billion a year earlier, on lower revenue reported by the gaming business operated by Berjaya Sports Toto Bhd as well as the hotels and resorts division.

Its basic earnings per share is 1.22 sen. No dividend was declared.