Eupe Corp 2Q net profit up 28.4% to RM433,000

KUALA LUMPUR: EUPE Corporation Bhd recorded a 28.4% increase in net profit for its second quarter (2Q) ended Aug 31, 2010 to RM433,000 from RM337,000 a year ago.

The group announced to Bursa on Monday, Oct 25 that its revenue increased 5.2% to RM26.016 million from RM21.725 million a year ago.

“The recent unveiling of the My First House Scheme under the new Budget bodes well for the property sector,” the Group said.

Many of the property development by Eupe Corp are priced below RM220,000 and the next level of properties tagged below RM350,000.

The basic earnings per share is 34 sen from 26 sen a year ago, while net assets per share for the quarter stood at RM1.85 compared with the preceding financial year end of RM1.84.

EUPE Corporation Berhad operates in four business segments: property development — residential and commercial; chalet and golf management; property construction; and property investment.