A & M Realty ends year with net proft of RM10.54 million

KUALA LUMPUR: A & M Realty Bhd closed its financial year ended December 31, 2010 (FYE 2010) with revenue and net profit of RM125.28 million and RM10.54 million respectively.

This represented a decrease of 12% in revenue compared to the RM143.16 million posted in the previous financial year, while its net profit too fell compared to RM14.05 million posted a year ago.

The decline was a result of certain development projects having been completed in the previous financial year, it said on Friday, Feb 25 in a Bursa announcement.

Its fourth quarter (4Q 2010) revenue was also lower by 15%, recording RM 24.75 million compared to RM29.28 million in the preceding quarter. Its net profit fell to RM2.40 million compared to RM2.88 million in its third quarter.

The lower revenue in the current quarter was a result of certain development projects having been completed and fully recognised in 3Q 2010.

The company is optimistic of achieving a satisfactory financial result in FYE 2011. No dividend was declared for the financial period under review.