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GuocoLand records lower net profit for 2Q

KUALA LUMPUR: GuocoLand (Malaysia) Bhd saw lower net profit for its second quarter ended Dec 31, 2009 (2QFY2010) of RM1.45 million, from RM5.87 million the previous year despite higher revenue.

Its revenue for the quarter increased 154.58% to RM45.32 million, from RM17.8 million a year earlier due to higher revenue from the property development division.

Its basic earnings per share for 2QFY2010 fell to 0.22 sen, from 0.88 sen. No dividend was declared.

In a filing to Bursa Malaysia on Jan 20, GuocoLand said its subsidiary incorporated in Bermuda, Guoman Hotels Ltd (GHL), had been dissolved and struck off from the Register of Companies pursuant to the Bermuda Companies Act 1981.

GHL was an inactive company, it added.
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