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Bolton’s 2Q net profit falls 39.26%

KUALA LUMPUR: Bolton Bhd’s net profit fell 39.26% to RM6.15 million in its second quarter ended Sept 30, 2009 (2QFY2010) compared with RM10.13 million the previous year, on lower revenue contribution.

Its revenue dropped 32% to RM61.39 million in the same quarter, from RM90.3 million a year earlier. The property development business, which contributed approximately 88% of the results, remains the group’s main contributor.

In a filing to Bursa Malaysia on Nov 12, Bolton said Tijani (Bukit Tunku) in Kuala Lumpur and Taman Tasik Prima in Puchong continued to be the major contributors to the property development business. Both projects contributed RM38 million in revenue.

Its earnings per share dipped to 2.25 sen, from 3.45 sen the previous year. It did not declare any dividend.
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