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KUALA LUMPUR: Ivory Properties Group Bhd has posted a net profit of RM8.08 million for its third quarter (3Q) ended Sept 30, 2010, slipping from RM8.44 million in the last quarter on higher operating expenses.
The group, which debuted on Bursa Malaysia on July 28, registered a 62% growth in revenue to RM41.97 million against RM25.9 million in the previous quarter.
The higher revenue was attributed to greater progress in the completion of Penang Times Square Phase 2, where its physical construction has been progressing well towards its completion, as well as completion of its Moonlight Bay project this quarter.
Basic earnings per share stood at 4.67 sen, down from 5.98 sen from the last quarter while net assets per share stood at 98 sen, up from 92 sen.
The group said its outlook this year is favourable.
The group, which debuted on Bursa Malaysia on July 28, registered a 62% growth in revenue to RM41.97 million against RM25.9 million in the previous quarter.
The higher revenue was attributed to greater progress in the completion of Penang Times Square Phase 2, where its physical construction has been progressing well towards its completion, as well as completion of its Moonlight Bay project this quarter.
Basic earnings per share stood at 4.67 sen, down from 5.98 sen from the last quarter while net assets per share stood at 98 sen, up from 92 sen.
The group said its outlook this year is favourable.
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