Loh & Loh Corp posts pre-tax profit of RM39.738 million for FY2009

KUALA LUMPUR: Loh & Loh Corp posted a pre-tax profit of RM39.738 million in its financial year ended Dec 31, 2009, higher than the RM32.347 million in the previous year. Revenue however, declined to RM250.569 million from RM307.218 million.

In an announcement on Feb 23, the Group generated a higher revenue of RM100.18 million and profit before taxation of RM15.79 million in 4QFY09 compared with a revenue of RM 57.30 million and profit before taxation of RM9.94 million in the preceding quarter.

The construction and property divisions were the major contributors to the Group’s results.

The Group’s construction division registered a lower revenue of RM182.88 million but higher profit before taxation of RM29.37 million in FY2009 compared with a revenue of RM227.52 million and profit before taxation of RM20.49 million in the preceding financial period ended Dec 31, 2008.

The higher profit before taxation for the period ended Dec 31, 2009 was due to its projects’ profitability that can be ascertained accurately as they were nearing completion.

The Group’s property development division generated a lower revenue of RM45.60 million and profit before tax of RM11.34 million for the financial period ended Dec 31, 2009, compared with a revenue of RM62.24 million and profit before taxation of RM16.01 million in the preceding financial period ending Dec 31, 2008.

The Board is optimistic that the results for 2010 will be satisfactory based on the existing order book and potential new contracts.