MRCB 4Q profit falls to RM26m

KUALA LUMPUR (Feb 9): Malaysian Resources Corp Bhd's (MRCB) net profit for 4QFY11 ended Dec 31 fell to RM26.12 million, or 1.88 sen a share, from RM41.5 million in the same period last year.

Revenue, however, rose to RM470.39 million from RM433.19 million previously, MRCB said in a filing with Bursa Malaysia on Wednesday. For the full year of 2011, net profit gained 15.2% to RM77.46 million while revenue increased 13.6% to RM1.21 billion.

MRCB said the better performance in FY11 was due to higher contribution from the group's ongoing property development projects at Kuala Lumpur Sentral, which it has offset against lower revenue from the infrastructure and environmental segment due to completion of existing environmental projects.