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Lien Hoe 3Q net loss widens to RM2.4m
KUALA LUMPUR: Lien Hoe Corporation Bhd's net loss widened to RM2.39 million for its third quarter ended Sept 30, 2010 from RM573,000 a year ago, on fair value loss arising from quoted securities during this period.
The net loss was despite a 24.17% growth in revenue to RM20.7 million, due to higher levels of construction activities and hotel occupancy, compared with RM16.67 million.
Basic loss per share stood at 0.67 sen, from loss of 0.16 sen a year ago, while net assets per share stood at 52 sen, up from 51 sen.
Lien Hoe expects its hospitality and construction divisions to maintain their positive contribution to their performance for the rest of this financial year.
"In the near term, the board is confident that the outlook of the group will improve in view of the progress made in the property development segment," it said.
Lien Hoe Corporation Bhd
KUALA LUMPUR: Lien Hoe Corporation Bhd's net loss widened to RM2.39 million for its third quarter ended Sept 30, 2010 from RM573,000 a year ago, on fair value loss arising from quoted securities during this period.
The net loss was despite a 24.17% growth in revenue to RM20.7 million, due to higher levels of construction activities and hotel occupancy, compared with RM16.67 million.
Basic loss per share stood at 0.67 sen, from loss of 0.16 sen a year ago, while net assets per share stood at 52 sen, up from 51 sen.
Lien Hoe expects its hospitality and construction divisions to maintain their positive contribution to their performance for the rest of this financial year.
"In the near term, the board is confident that the outlook of the group will improve in view of the progress made in the property development segment," it said.
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