A & M Realty chalks up 323.3% increase in net profit for 1Q 2010

KUALA LUMPUR: A & M Realty Bhd has recorded a 323.3% rise in net profit for the quarter ending March 31,2010 to RM2.235 million compared with RM528,000 from the corresponding quarter a year ago. Revenue was up 61.2% to RM33.790 million in the quarter under review versus RM20.966 million in the corresponding quarter last year.

The Group said in a statement in Bursa Malaysia on May 25 that the pre- tax profit achieved for the current quarter of RM3.710 million was lower compared the preceding quarter (4Q2009) of RM4.458 million. A & M Realty Bhd explains that the lower pre-tax profit was due to the completion of certain development projects in the preceding quarter.

A & M Realty Berhad is engaged in development and construction of properties in Malaysia.