JMR Conglomeration Bhd posts net profit of RM412,000

KUALA LUMPUR: JMR Conglomeration Bhd posted a net profit of RM412,000 for its first quarter (1Q) ended June 30, 2010, a 69.5% decline compared with net profit RM1.353 million posted a year ago.

Its revenue for the quarter under review stood at RM 5.87 million, down from RM8.73 million posted for the same period a year ago.

However, the quarter's profit represents a turnaround from the preceding quarter's net loss of RM15.037 million.

The company said on Wednesday, Aug 25 that the drop in profits was due to the lower contribution from the manufacturing and property development divisions during the period under review.
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