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Eksons 2Q net profit slips to RM8m
Lam Jian Wyn of TheEdgeProperty.com
KUALA LUMPUR: Timber and property outfit Eksons Corporation Bhd's net profit slipped to RM7.99 million for its second quarter (2Q) ended Sept 30, 2010 from RM8.43 million a year ago, despite higher revenue.
Turnover grew by 43.97% to RM93.02 million from RM64.61 million, the group said in a filing to Bursa Malaysia on Thursday, Nov 23.
Basic earnings per share dipped to 4.87 sen from 5.14 sen, while net assets per share stood at RM2.19, from RM2.09 a year ago.
Nonetheless, year-to-date, the group's net profit jumped 60.82% to RM17.24 million from RM10.72 million on a 32% growth in revenue to RM163.17 million from RM122.87 million.
Eksons noted that it had received income from its property division for the first time, with sales from its Seri Kembangan development The Atmosphere at RM7.2 million while profit after tax stood at RM5.5 million. Going forward, the group expects its performance to be positive.
Its timber division to be affected by the weakening of the US dollar, but margins should remain positive with current cost-controlling and productivity-enhancing measures in place.
Meanwhile, its property segment is expected to contribute more as construction on its project progresses.
Eksons Corporation Bhd,Seri Kembangan,The Atmosphere
KUALA LUMPUR: Timber and property outfit Eksons Corporation Bhd's net profit slipped to RM7.99 million for its second quarter (2Q) ended Sept 30, 2010 from RM8.43 million a year ago, despite higher revenue.
Turnover grew by 43.97% to RM93.02 million from RM64.61 million, the group said in a filing to Bursa Malaysia on Thursday, Nov 23.
Basic earnings per share dipped to 4.87 sen from 5.14 sen, while net assets per share stood at RM2.19, from RM2.09 a year ago.
Nonetheless, year-to-date, the group's net profit jumped 60.82% to RM17.24 million from RM10.72 million on a 32% growth in revenue to RM163.17 million from RM122.87 million.
Eksons noted that it had received income from its property division for the first time, with sales from its Seri Kembangan development The Atmosphere at RM7.2 million while profit after tax stood at RM5.5 million. Going forward, the group expects its performance to be positive.
Its timber division to be affected by the weakening of the US dollar, but margins should remain positive with current cost-controlling and productivity-enhancing measures in place.
Meanwhile, its property segment is expected to contribute more as construction on its project progresses.
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