Faber posts RM509.2 mil in revenue, RM74.6 mil in PBT for 3Q2009

KUALA LUMPUR: Faber Group Bhd (Faber) announced its 3Q23009 results year-to-date Sept 20, 2009, with RM509.2 million in revenue and profit before tax (PBT) of RM74.6 million.

Faber, with its core businesses in integrated facilities management (IFM) and property development, posted an increase of 16% or RM197.8 million in revenue for 3Q2009 compared with the preceding quarter (2Q2009). It’s PBT increased by 29%, or RM7.7 million, to RM34.1 million compared with RM26.4 million in 2Q2009.

According to a statement released by the group, the positive growth in 3Q2009 was attributed to improved revenue and PBT contribution from its IFM division due to higher bed occupancy and additional new facilities at the hospitals and also revenue from its new business in the United Arab Emirates. The Property Management division also recorded higher revenue mainly due to higher progress billings for the projects in Laman Rimbunan, Kepong, Kuala Lumpur, as compared with 2Q2009. 

Nevertheless, in comparison with 3Q2008, Faber’s revenue dropped by 1.7%, or RM9 million, and PBT fell by 8.7%, or RM7.1 million.

The IFM business expansion continues to be part of the Group’s main growth strategy while the operational performance of the Property Development division is showing signs of recovery and is expected to improve in the next quarter.

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