Crescendo Corp 1Q net profit up 6%

KUALA LUMPUR: Crescendo Corporation Bhd's first quarter earnings rose 6% to RM4.812 million from RM4.522 million a year ago and it expects performance to improve in the current financial year.

It said on Tuesday, June 29 that revenue increased 23% to RM44.69 million from RM36.36 million due to higher sales in construction services and concrete products.

The earnings per share increased by 6% with 3.12 sen from 2.94 sen a year ago and net assets per share increase 1.37% with RM2.95 compared to RM2.91 in the same period.

For the financial year ending Jan 31, 2011, Crescendo said it would focus on the development of industrial properties at Nusa Cemerlang Industrial Park in Nusajaya.

It also expects its performance to be better due to higher sales of industrial properties and better contributions from manufacturing and construction operations.

Crescendo's principal activities are developing industrial properties and letting undeveloped and unsold properties.