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KUALA LUMPUR: Mahajaya Bhd reported an increase in net profit by 54% to RM1.789 million from RM1.161 million a year ago for its first quarter (1Q) financial results ended Sept 30, 2010, the group announced on Monday, Nov 29.
Revenue earned during the same period fell by 24% to RM34.964 million from RM45.771 the previous year.
The group attributed the drop in revenue by the property development activities in Bandar Damai Perdana, Cheras, while the increase in profit during the period was due to lower operating expenses incurred.
The basic earning per share increased to 0.65 sen from 0.42 sen a year ago. Net asset per share went up to RM0.9934 from RM0.9869 the preceding financial year end.
Mahajaya is a Malaysia-based investment holding company. The group operates in property development of residential and commercial properties, construction of earthworks and buildings, and the manufacturing and trading ready mixed concrete and pile casting.
Revenue earned during the same period fell by 24% to RM34.964 million from RM45.771 the previous year.
The group attributed the drop in revenue by the property development activities in Bandar Damai Perdana, Cheras, while the increase in profit during the period was due to lower operating expenses incurred.
The basic earning per share increased to 0.65 sen from 0.42 sen a year ago. Net asset per share went up to RM0.9934 from RM0.9869 the preceding financial year end.
Mahajaya is a Malaysia-based investment holding company. The group operates in property development of residential and commercial properties, construction of earthworks and buildings, and the manufacturing and trading ready mixed concrete and pile casting.
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