DNP 4Q net profit result up 1113%

KUALA LUMPUR: For its fourth quarter for the year ending June 30, 2010 (4QFY2010), DNP Holdings Bhd reported a net profit of RM18.7 million, up by 1113% compared to a net loss of RM1.8 million in the same period a year ago mainly due to higher revenue from the property development and trading divisions.

The company said on Friday, Aug 13, that its 4Q revenue was RM94.8 million, up 20.1% compared to RM78.9 million for the same period a year ago. Earnings per share stood at 6.01 sen compared to a decline of 0.59 sen a year earlier.

For the whole financial year 2010, DNP reported a net profit of RM53.2 million, up 279% compared to RM14 million for FY09, with a 37% revenue increase from RM258.6 million in FY2009 to RM354.2 million in FY2010.

Earnings per share increased to 17.12 sen compared to 4.52 sen the previous year.

On future prospects, the company said that with improving domestic economic conditions, it expected more improvements from the property development and apparel and lifestyle divisions.