KSL's Q2 pre-tax profit rises to RM34.07 mil

KUALA LUMPUR: KSL Holdings Bhd's pre-tax profit for the second quarter ended June 30, 2011 rose to RM34.07 million from RM24.32 million in the same quarter of 2010.

Its revenue increased to RM78.85 million from RM46.9 million previously. In a filing to Bursa Malaysia today, KSL said the increases in pre-tax profit and revenue were mainly due to the change in sales mixed and a higher percentage of completion of the existing main on-going projects of the group, especially in Johor Baru.

Going forward, KSL said it planned to continue developing residential and commercial properties in Johor Baru, Segamat, Kluang and Muar in Johor. "These developments are anticipated to further strengthen the group's foothold in landed properties' market in Johor," it said.

KSL said in the medium to long term, it was optimistic its growth would be sustainable with its portfolio of existing projects and the visible pipeline of new launches of prime projects. -- Bernama