Ibraco Bhd sees 2Q net loss of RM2.42m

KUALA LUMPUR: Ibraco Bhd recorded a net loss of RM2.42 million compared to a net loss of RM1.11 million a year ago, for its third quarter (3Q) financial results ended Sept 30, 2010, the group announced on Monday, Nov 29.

Revenue however, rose 80% to RM72,000 from RM40,000 the previous year.

The group attributed the revenue increase to landscaping and maintenance work.

The basic loss per share for end of the current quarter under review is 2.43 sen from a loss per share of 1.12 sen a year ago. The net assets per share dropped to RM1.3272 from RM1.3749 the preceding financial year end.

Ibraco is a Malaysia-based company engaged in realty development and investment holding. Ibraco's portfolio includes residential, commercial and industrial properties.