Crescendo Corp sees lower net profit of RM3.43 million for 4Q

KUALA LUMPUR: Crescendo Corp Bhd saw its net profit for the fourth quarter ended Jan 31, 2010 (4QFY2010) drop 47.4% to RM3.43 million, from RM6.5 million on lower revenue.

Meanwhile, its revenue for the quarter fell 20.3% to RM43.23 million, from RM53 million due to lower sales of industrial properties and concrete products.

“The concrete products margin is also squeezed as a result of the materials cost fluctuations and strong competition,” the company said in a filing to Bursa Malaysia on March 30.

Its basic earnings per share dipped to 2.22 sen, from 4.22 sen. It declared a final dividend of 4 sen less 25% tax per share for the financial year ended Jan 31, 2010 (FY2010), making the total dividend for the financial year to 7 sen less tax 25% per share.