IOI Corp posts RM709.3 mil pre-tax profit for 3Q2010

KUALA LUMPUR: IOI Corp Bhd recorded 401.9% jump in pre-tax profit to RM709.3 million for the 3Q ended March 31, 2010, from RM141.3 million in the previous preceding quarter.

The profit was mainly from higher contributions by the property and manufacturing segments and unrealised transaction gains from US dollar-denominated borrowings of RM231.5 million (3QFY2009 -- loss of RM234.4 million), said the leading global integrated palm oil player and property developer on the Bursa Malaysia website.

The company's revenue also rose 1.64% to RM3.147 billion from RM3.096 billion. -- Bernama