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KSL Holdings 3Q net profit up 13.9% to RM15.57m

KUALA LUMPUR: KSL Holdings Bhd has posted a net profit of RM15.57 million for its third quarter ended Sept 30, 2010, up 13.9% from RM13.6 million a year ago despite lower revenue.

In a filing to Bursa Malaysia on Wednesday, Nov 23, the group posted revenue of RM40.4 million, down 26% from RM54.6 million.

Its earnings per share stood at 4.03 sen from 3.88 sen a year ago.

The group said the bulk of its earnings this quarter came from its flagship projects in Johor Bahru, Muar, Yong Peng and Segamat — namely Taman Nusa Bestari, Taman Bestari Indah, Taman Kempas Indah and Maharani Riviera.

KSL Holdings said it expected the sale of its landed residential properties in Johor to contribute positively to the group due to its landbank of 1,100 acres strategically located in Johor Bahru as well as its niche and strong brand in the southern state.

The group's Klang Valley project is also expected to come onstream next year, it said.
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