Hua Yang posts better Q3 pre-tax profit

KUALA LUMPUR (Jan 23):  Hua Yang Bhd's pre-tax profit for the third quarter ended Dec 31, 2012 increased to RM26.993 million versus RM19.781 million recorded in the same quarter in 2011.

Revenue rose to RM104.604 million, during the period under review, from RM84.251 million chalked up in the third quarter of the previous year, the company said in a filing to Bursa Malaysia.

It said the better pre-tax profit and revenue were attributable to steady construction progress recognition especially in service apartment projects in the Klang Valley and other projects in Johor Baru and Perak.

Hua Yang said it remained positive of posting improved results in the remaining period of the current financial year. - Bernama