Bina Darulaman net profit drops 13.6% for 3Q

KUALA LUMPUR: Bina Darulaman Bhd’s net profit for the third quarter (3Q) ended Sept 30, 2010 dropped 13.6% to RM2.11 million from RM2.44 million a year ago.

In its filing on Bursa Malaysia on Tuesday, Oct 26, 2010, the Group also reported revenue dropped by 28.4% to RM37.07 million from RM51.79 the previous year.

“All the core activities of the Group recorded lower revenue for the period due to sluggish demand and lower progress billing, which also affected profits,” the Group said.

Bina Darulaman’s basic earnings per share fell to 3.18 sen from 3.69 sen the year before. Net assets per share meanwhile, went up to RM3.16 from RM3.10 last year.

The Group is engaged in investment holding, provision of management services, oil palm plantation and property development.