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KUALA LUMPUR: Faber Group Berhad's profit before tax (PBT) for the second quarter (2Q2010) jumped 68.2% to RM44.4 million from RM26.4 million for the corresponding quarter last year, while its quarter-on-quarter PBT was up 85.6% from RM23.9 million posted in 1Q.
The group said on Thursday, Aug 5, that it recorded revenue of RM270.2 million in 2Q2010. The property division contributed over RM20.5 million to the group's revenue, compared to RM2.13 million posted in 1Q 2010. This was attributed to higher progress billings from the Armada Villa project in Taman Desa, which was launched in April 2010.
For the year-to-date, the group recorded revenue of RM454.2 million against RM311.4 million for the preceding year. However, the property division recorded a negative variance of RM8.6 million.
Faber expects to improve contribution from all business division and will focus its efforts on its integrated facilities management, local and overseas. With a proposed new project launches in the works, the property division is also expected to improve its contribution to the group's earnings in the second half of 2010.
The group said on Thursday, Aug 5, that it recorded revenue of RM270.2 million in 2Q2010. The property division contributed over RM20.5 million to the group's revenue, compared to RM2.13 million posted in 1Q 2010. This was attributed to higher progress billings from the Armada Villa project in Taman Desa, which was launched in April 2010.
For the year-to-date, the group recorded revenue of RM454.2 million against RM311.4 million for the preceding year. However, the property division recorded a negative variance of RM8.6 million.
Faber expects to improve contribution from all business division and will focus its efforts on its integrated facilities management, local and overseas. With a proposed new project launches in the works, the property division is also expected to improve its contribution to the group's earnings in the second half of 2010.
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