DRB-Hicom's posts RM 200.2m 1Q net profit

KUALA LUMPUR: DRB-Hicom Bhd posted a net profit of RM200.22 million for its first quarter (1Q) ended June 30, 2010, compared with RM60.5 million a year ago, mainly due to the increase to the recognition of the negative goodwill arising from accretion of equity interest in EON, improved performance of subsidiaries and higher shares of results of jointly controlled entities and associated companies.

The company said on Thursday, Aug 26 that its 1Q revenue was RM1.55 billion, down by 4% compared with RM1.62 billion posted a year ago.

It said the revenue decline was mainly due to lower sales recorded by EON for 1Q 2010 due to migration of sales and after sales dealers to Proton Edar Sdn Bhd in July 2009.
Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.