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KUALA LUMPUR: Malton Bhd has posted a net profit of RM5.5 million for its first quarter (1Q) ended Sept 30, 2010, slipping 13.4% from RM6.4 million a year ago on the back of lower revenue, the group announced to Bursa Malaysia on Tuesday, Nov 23.
Its revenue declined by 13.7% to RM68.8 million from RM79.7 million due to the completion and handing over of Pearl Villas in December 2009 as well as completion of its construction and project management projects.
On a quarterly basis, group revenue fell 20% from RM86 million while pre-tax profit fell 25.47% from RM10.6 million largely due to lower billings of its Amaya Saujana project as it had reached the final stage of completion.
However, its net profit rose slightly from RM5.3 million thanks to lower tax provisions arising from lower non-tax deductible expenses.
The group expects to perform satisfactorily this financial year on the back of ongoing projects — Amaya Maluri, V Square, Bukit Rimau Shops and The Grove — coupled with new construction and project management contracts.
Its earnings per share fell to 1.59 sen from 1.84 sen a year ago.
Its revenue declined by 13.7% to RM68.8 million from RM79.7 million due to the completion and handing over of Pearl Villas in December 2009 as well as completion of its construction and project management projects.
On a quarterly basis, group revenue fell 20% from RM86 million while pre-tax profit fell 25.47% from RM10.6 million largely due to lower billings of its Amaya Saujana project as it had reached the final stage of completion.
However, its net profit rose slightly from RM5.3 million thanks to lower tax provisions arising from lower non-tax deductible expenses.
The group expects to perform satisfactorily this financial year on the back of ongoing projects — Amaya Maluri, V Square, Bukit Rimau Shops and The Grove — coupled with new construction and project management contracts.
Its earnings per share fell to 1.59 sen from 1.84 sen a year ago.
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