Mah Sing edges up on firm 1Q earnings

KUALA LUMPUR (May 28); Mah Sing Group Bhd net profit for the first quarter ended March 31, 2012 rose 45.54% to RM59.92 million from RM41.17 million, on the back of a 46.83% increase in revenue to RM457.76 million from RM311.76 million.

At 3.21pm, Mah Sing added three sen to RM2 with 95,600 shares traded.

Earnings per share was 7.20 sen compared to 4.95 sen previously, while net assets per share was RM1.36.

Reviewing its performance on Monday, Mah Sing said it made good progress in land acquisitions and joint development with RM3.63 billion in new potential gross development value from three land deals secured year-to-date.



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