EUPE’s 9MFY15 earnings down 15% to RM7.7m

KUALA LUMPUR (Jan 23): EUPE Corporation Bhd’s net profit increased 5.86% to RM3.43 million or 2.68 sen a share in its third quarter ended Nov 30, 2014 (3QFY15), despite revenue fallen by 22.44% to RM40.88 million.

For the cumulative nine months (9MFY15), net profit was down 14.62% to RM7.71 million, while revenue had dropped 1.43% to RM134.15 million.

The Kedah-based property developer attributed the weaker results to slower take-up rates of its ongoing projects.

It also expects the market condition to remain challenging in the near term, in view of tougher lending guidelines, coupled with the increase of Overnight Policy Rate (OPR) by Bank Negara Malaysia.

However, the group said its performance can be sustained, in view of the on-going development projects and the level of work targeted to be completed.

EUPE (fundamental: 1.25; valuation: 1.2) operates in four business segments: property development; chalet and golf management; property construction and others.

The counter inched up 1 sen or 1.27% to close at 79.5 sen, translating into a market capitalisation of RM100.48 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.