Hua Yang’s net profit for 2Q up by 18%

KUALA LUMPUR: Hua Yang Bhd’s net profit rose 18% to RM2.737 million for its second quarter ended Sept 30, 2009 (2QFY2009) from RM2.329 million in the same period last year. 

However, its revenue for 2QFY2009 was lower by 14.74% at RM23.893 million from the RM28.024 million recorded in the same period last year. 

In a filing to Bursa Malaysia on Nov 17, Hua Yang said it registered a cumulative six-month net profit of RM5.531 million, up 36% from RM4.076 million last year.

Revenue for the six-month period increased by 2% to RM49.059 million from RM48.115 million over the same period last year.

The group said the improved performance was due to better sales achieved and its earnings per share for the six months stood at 6.16 sen.

Hua Yang said it would continue to focus on building affordable and quality homes for the public by strengthening its presence in this market.

“The group remains positive on the outlook for the affordable and mass-housing market segment. We believe this segment will remain reasonably strong as it is mainly driven by owners-occupiers,” it said.

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