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Hunza Properties sees 62% jump in profit before tax for 3QFY20

KUALA LUMPUR: Hunza Properties Bhd profit before tax (PBT) for its third quarter ended Marach 31, 2010 (3Q2010) rose 62%, from RM8.99 million to RM14.76 million in the same period last year. The group’s revenue also increased by 216%, or RM58.53 million, compared to RM18.51 million in the same period last year.

According to a filing to Bursa on Monday May 3, the increase in both revenue and PBT was mainly due to the group’s acquisition of Diamaward (M) Sdn Bhd, which contributed RM18.9 million revenue in its current quarter; higher revenue and attributable profit on percentage of work done on its current construction of its two residential towers of Gurney Paragon in Penang; and stronger property sales compared to the same period last year.

The Group views the prospect for the current financial year to be positive due to the improving market sentiment and pace of construction work.

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