Dutaland post net profit of RM3 million

KUALA LUMPUR: Dutaland Bhd posted a net profit of RM3 million for its second quarter ended December 31, 2010 (3Q 2010) on the back of revenue of RM19 million.

Comparatively, the company recorded revenue and net profit of RM18.2 million and RM598,000 respectively a year ago, it said on Wednesday, Feb 23 in a Bursa announcement.

The increase  in revenue was attributed to higher contribution from the plantation division of RM6.1 million, offset with lower contribution from the property division of RM4.8 million.

The improved net profit was due to higher contribution from the plantation division of RM3.5 million and lower interest expense of RM0.7 million, offset with lower contribution from the property division of RM2.5 million and lower foreign exchange gain of RM1.1 million.

The company said its results for the financial year ending 30 June 2011 is dependent on the economic conditions.

No dividend was announcement for the current financial period.