Krisassets post RM80.1m 4Q profit

KUALA LUMPUR: Krisassets Holdings Bhd reported a net profit of RM80.1 million for the fourth quarter (4Q) of the financial year ended Dec 31, 2010 an increase of 61% from RM49.5 million reported the same quarter a year earlier due to the recognition of revaluation surplus on investment property.

In a filling to Bursa Malaysia on Friday, Feb 11, the Mid Valley Megamall operator reported revenue of RM61.7 million for 4QFY2010 compared to RM58.6 million in 4QFY2009, due to higher total rental income. Earnings per share stood at 23.44 sen, compared to 14.86 sen a year earlier.

For the whole 2010 financial year under review, the company posted a net profit of RM200 million compared to RM136 million in FY2009, while revenue in stood at RM239.3 million compared to RM227.8 million a year ago.

Krisassets added that a dividend of 7.5% on ordinary shares was paid on Jan 18, 2011 for the financial year ended Dec 31, 2010.

On future prospects, the company is cautiously optimistic on its financial performance for the FY2011 with improving economic and business conditions.