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DNP Holdings 1Q net profit up 42%

KUALA LUMPUR: DNP Holdings Bhd (DNP) net profit for its first quarter (1Q2011) ended Sept 30, 2010, rose to 42%, or RM13.9 million, compared with RM9.8 million a year ago.

In its filing to Bursa Malaysia on Thursday, Nov 11, the company said its revenue was RM86 million in 1Q2011, which is 34% higher than the RM65 million recorded in the same quarter a year earlier.

DNP said the higher revenue for 1Q2011 was mainly due to higher revenue from the property development and trading visions.

However, the group recorded a 9% decrease in revenue in the current quarter compared to RM95 million in the previous quarter (4Q2010) due to lower revenue contribution from the group’s property development division.

The group expects an improvement in the property development and apparel and lifestyle divisions with the improving domestic economic conditions.
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