MRCB 1Q net profit surges to RM9.84 million

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB)’s net profit for the 1Q ended March 31, 2010 surged to RM9.85 million from RM153,000 a year ago.

It said on Tuesday, May 18, revenue rose 24% to RM189.68 million from RM152.6 million a year ago. Earnings per share was 0.93 sen compared with 0.02 sen a year earlier.
MRCB attributed the higher revenue to increased activities of its ongoing projects in all of its business segments.

On its prospects, MRCB said the ongoing works would deliver positive growth in revenue and profitability for the current financial year.

"Over the next three years will see the progressive completion of the on-going construction projects and property development within KL Sentral such as the KL Sentral Park completing in 2011, the Shell headquarters at 348 Sentral and NU Sentral Retail Mall completing in 2012.

"Coupled with the Eastern Dispersal Link expressway project in Johor Bahru, which we expect to commence operations in 2012, these major projects will further expand the group's recurring earnings and cash flow to provide a sustainable growth in its core businesses in the near future," it said.