General Corp 1Q net profit up 96.5% y-o-y

KUALA LUMPUR: General Corporation Bhd posted a net profit of RM22.6 million for its first quarter result for the financial year ending Jan 31, 2011 (1QFY2011), an increase of 96.5% from RM11.5 million net profit in the same quarter a year ago.

In a filing with Bursa Malaysia on Friday, June 25, the construction and property development company posted revenue increase of 10.7% to RM248 million from RM224 million in the first quarter a year ago. Earnings per share stood at 7.62 sen from 3.87 sen in the preceding year.

On its future prospects, the group said that it remains focused on its core businesses while emphasising operational efficiency and cost measurement strategies.