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Mitrajaya posts net profit of RM50 million

KUALA LUMPUR: Mitrajaya Holdings Bhd closed its financial year ended Dec 31, 2010 (FYE 2010) with revenue and net profit of RM332.72 million and RM50.70 million respectively.

Comparatively, it recorded a revenue of RM326.34 and net profit of RM41.20 million a year ago, it said on Friday, Feb 25 in a Bursa announcement.

The decrease in revenue was mainly attributed to the property development and construction divisions.

For its fourth quarter, it recorded revenue and net profit of RM88.03 million and RM9.76 million respectively.

The company is conscious of the challenging operating environment and hopes to see a satisfactory performance for FYE 2011.

It recommended a first and final single tier cash dividend of 12% and a share dividend on the basis of one treasury share for every 20 existing ordinary share of RM1 each held in the company, fractions of treasury shares to be diregarded for the financial period under review.

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