DutaLand closes financial year with pre-tax profit of RM15.8mln

KUALA LUMPUR: DutaLand Bhd posted a pre-tax profit of RM15.8 million for its financial year ended June 30, 2010 (FYE 2010), on the back of revenue of RM109.1 million.

Comparatively, the group posted revenue and pre-tax profit of RM100.5 million and RM77.9 million respectively in FYE 2009.

It said on Tuesday, Aug 24 that the shortfall of RM62.1 million in pre-tax profit was mainly due to gain on disposal of a subsidiary of RM83.4 million and write back of provision for litigation claims of RM21.3 million recorded in the previous year.

This was mitigated by higher foreign exchange gain of RM14.4 million, gain on disposal of investment properties/land of RM13.3 million and higher profit generated by the property division of RM15 million in FYE 2010.

The plantation division registered lower profit by RM2.6 million in FYE 2010.

Revenue for the fourth quarter for 2010 was higher by RM14 million as compared to the previous year's corresponding quarter, with a pre-tax profit of RM19.2 million against RM38.3 million in the previous year’s corresponding quarter.
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