L&G net profit up 64% to RM4.65m in 2Q

KUALA LUMPUR: Land & General Bhd (L&G) has posted a net profit of RM4.65 million for its second quarter (2Q) ended Sept 30, 2010, up 64% from RM2.84 million a year ago on foreign exchange gains, it announced to Bursa Malaysia on Tuesday, Nov 23.

Its net profit increased mainly due to foreign exchange gains of RM10.3 million realised from capital distributions from a foreign subsidiary. Its revenue rose marginally to RM8.33 million from RM8.26 million

Earnings per share rose to 0.78 sen from 0.47 sen. The group expects its performance this financial year to be satisfactory in light of the gradual recovery in the global economy.