Equine's 2Q earnings up 90%

KUALA LUMPUR (Nov 11): Equine Capital Bhd posted a 91.4% year-on-year jump in net profit to RM12.02 million for 2QFY12 ended Sept 30.

Revenue was up 115% in the same period to RM99.2 million, boosted by its property development segment, according to its announcement to Bursa Malaysia on Thursday.

The company noted that the improved results were due to the disposal of a parcel of leasehold land that was recognised in the income statements in the quarter under review as well as the higher construction progress achieved for ongoing projects in Seri Kembangan.

Equine's 2QFY12 net profit was 17.84% higher than its 2QFY11 net profit of RM10.2 million.

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