KUALA LUMPUR: GuocoLand (Malaysia) Bhd's pre-tax profit for the second quarter ended June 30, 2012 rose to RM28.662 million from RM27.432 million in the corresponding quarter of last year. Its revenue fell to RM39.027 million from RM58.005 million previously.
For the half-year period, its pre-tax profit increased to RM28.988 million from RM27.694 million in the same period of 2011. However, its revenue decreased to RM116.328 million from RM141.480 million previously.
In a filing with Bursa Malaysia Securities, GuocoLand said the group posted a higher pre-tax profit in the second quarter due to higher profit contribution from property development as a result of write-back of provision for forseeable loss.
On prospects, the property developer and hotel operator said the property market is expected to be challenging in view of the volatile economic environment.
However, it said properties in selected and prime locations are expected to continue to attract the interests of buyers and tenants.--Bernama
TOP PICKS BY EDGEPROP
You buy Property , We Help you pay installments !
Mont Kiara | New Condo Below Market Price
Mont Kiara, Kuala Lumpur
You Buy property , We help you pay Installments !!
Nilai, Negeri Sembilan
Kota Damansara | Freehold Condo Walk To UNIVERISTY
Kota Damansara, Selangor
Cyberjaya | Cash Back Up To 35K New Condo
2.5 Storey Bungalow House Kg Kubu Gajah
Sungai Buloh, Selangor
Residence [email protected] [Foc Mot & Free Furniture]
Bandar Botanic/Bandar Bukit Tinggi, Selangor
Cyberjaya DUAL KEY CONDO FREE FURNISHED+RENOVATED
Cheras Semi D Below Market Price Left *7Units*
Cheras, Kuala Lumpur
(CMCO Offer) 5R6B Villa Style Super Link, Puchong