Bolton records higher net profit in 4Q2010

KUALA LUMPUR: Bolton Bhd has recorded a higher net profit of RM9.842 million in its fourth quarter ended March 31, 2010 compared with a net loss of RM2.474 million recorded in the same period last year.

Revenue jumped to RM74.174 million compared to RM43.907 million last year.

“The main contributor to the Group's results continues to be the property development business which contributed approximately 80% to the Group's results,” it said in a filing to Bursa Malaysia on Wednesday May 26.

Tijani (Bukit Tunku), Kuala Lumpur and Taman Tasik Prima, Puchong contributed RM43 million in revenue and RM9 million respectively.

“The management is optimistic of achieving satisfactory performance for the financial year ending March 31, 2011, driven by its on going developments and its planned launches of new high-end condominium projects, namely Six Ceylon, 51 Gurney and Arata located at Bukit Tunku,” Bolton said.

Bolton’s Board of Directors has recommended a final dividend of 3.0 sen per share less 25% tax in respect of the financial year ended March 31, 2010.

The proposed dividend payout of approximately RM 6.51 million is subject to the approval of the shareholders in its upcoming Annual General Meeting.

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