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Ibraco Bhd posts net loss of RM807,000 for 2Q 2010

KUALA LUMPUR: Ibraco Bhd posted a net loss of RM807,000 for its second quarter (2Q) ended June 30, 2010, compared with a net loss of RM1.14 million posted a year ago.

The company said on Thursday, Aug 26 that its revenue for 2Q increased to RM680,000 from RM560,000 recorded a year ago. In both quarters, there were no new project launches, and its revenue for 2Q is mainly generated from sales of inventories, and landscaping and maintenance works.

Its other income increased from RM131,000 in the corresponding quarter to RM245,00 in 2Q 2010, while finance cost was reduced to RM167,000 from RM203,000 posted a year ago. Meanwhile administrative expenses decreased to RM1.25 million compared with RM1.39 million a year ago.

The company will be launching new projects comprising residential and commercial properties in the second half of 2010.
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