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MK Land posts net profit of RM323.48mln for FYE10

KUALA LUMPUR: M K Land Holdings Bhd posted revenue and net profit of RM323.48 million and RM11.19 million respectively for its financial year ended June 30, 2010 (FYE 2010), compared to revenue and net profit of RM246.59 million and RM18 million respectively posted a year ago.

Its revenue and net profit for its fourth quarter (4Q) ended June 30, 2010 are RM99.5 million and RM4.1 million respectively, which is attributed to sales and construction progress of development projects in Klang Valley as well as from its leisure division operations in Malaysia.

The company said on Wednesday, Aug 25 that its projects, especially the Rafflesia semi-detached bungalows, the duplex Armanee Terrace condominium and the Metropolitan Square mixed development in Damansara Perdana, together with the increase interest in the local property sector are expected to be the key drivers for its sales growth.
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