Malton post higher profit for its third quarter

KUALA LUMPUR: Malton Bhd recorded a net profit of RM26.3 million for its third quarter ended March 31, 2011 (3Q2011), on the back of revenue of RM116.4 million.

The results marked a significant improvement over its net profit of RM3.6 million and revenue of RM64.9 million posted a year ago.

Revenue from the property development, construction and project management divisions showed stronger earnings compared to the previous corresponding quarter, it said in a Bursa announcement on Thursday, May 19.

The property division benefited from the completion of en bloc sales of an office tower of V Square Project and billings from commercial projects with better margins as well as better cost savings arising from the continuous re-engineering exercise.

It is optimistic that the property market will remain positive, as proven by the good take-up rates for its launched projects.

The on-going development projects namely, Amaya Maluri, V Square, Bukit Rimau Shops and The Grove together with on-going construction and project management contracts are expected to contribute positively to its earnings for its financial year ending June 30, 2011.