Melati Ehsan 4Q net profit dips 66.4%

KUALA LUMPUR: Melati Ehsan Holding Bhd in its fourth quarter (4Q) financial report ending August 31, 2010 recorded a dip of 66.4% in net profit to RM1.66 million from RM4.94 million a year ago.

The Group, in its filing with Bursa Malaysia on Wednesday, Oct 27, also reported a drop in revenue by 6% to RM54.42 million from RM57.88 million the previous year.

“The decrease in profit of the Group in the current financial year as compared to the preceding year was due to the lower revenue as a result of lower construction activities,” the Group said.

The basic earnings per share for the current quarter dropped to 1.38 sen from 4.12 sen a year ago. Its net assets per share it was RM1.16 from RM1.14 the previous year.

Melati Ehsan Holdings Berhad is a Malaysia-based investment holding company that mainly operates in the construction industry.

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