Bolton Bhd posts net profit of RM5.06mln

KUALA LUMPUR: Bolton Bhd posted a net profit of RM5.06 million from a revenue of RM53.21 million for its first quarter (1Q) ended June 30, 2010, compared with a net profit of RM5.86 million from a revenue of RM58.47 million posted a year ago.

The company said on Wednesday, Aug 25 that the main contributor continues to be its Property Development business, which contributed about 92% of its earnings. The major contributors projects to the property development business are those in Taman Tasik Prima, Puchong and Surin, Pulau Pinang.

The company is optimistic of achieving satisfactory performance for the financial year ending 31 March 2011, driven by its on-going developments and its planned launches of new high-end condominium projects in the third and fourth quarter of 2010.

The company said that it received good preliminary indications of take-up rates for Six Ceylon (215 units), located at Jalan Ceylon; 51 Gurney (71 units), located at the heart of Kuala Lumpur City Centre; Arata (100 units), located at Bukit Tunku; and the Wharf, a mixed commercial and residential development in Taman Tasik Prima Puchong