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Education div, forex gains boost Selangor Properties's 2Q earnings

KUALA LUMPUR: Selangor Properties Bhd posted net profit RM30.22 million for the second quarter ended April 30, 2011 compared with net loss RM25.63 million a year earlier, due mainly to higher gain from its education division and unrealised forex gain of RM4 million.

Revenue for the quarter declined slightly to RM51.88 million from RM52.36 million in 2010. Earnings per share was 8.8 sen while net assets per share was RM5.50.

For the six months ended April 30, Selangor Properties posted net profit RM35.29 million compared to net loss RM18.85 million a year earlier, on the back of revenue RM98.69 million.

Commenting on its outlook, the company said on Monday, June 27 that the group's prospects for its Malaysian and Australian operations for the current financial year remain positive.

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