Mudajaya net profit up 31% to RM46.54m for 3Q

KUALA LUMPUR: Mudajaya Group Bhd's net profit rose 31% to RM46.54 million for its third quarter ended Sept 30, 2010, from RM35.32 million a year ago despite lower revenue.

Its turnover slipped to RM191.15 million from RM200.1 million, the group announced to Bursa Malaysia on Tuesday, Nov 23.

Meanwhile, its revenue fell by 8.3% from RM208.6 million and its net profit declined by 17.6% to RM73.4 million on a quarterly basis due to a slight decrease in activities caused by adverse weather conditions.

However, year-to-date, the group's revenue grew by 25.8% to RM639.1 million from RM508.21 million, while its pre-tax profit swelled by 97.9% to RM211.2 million from RM106.7 million, due to more activities in the current period.

Mudajaya has proposed a dividend of 1.5 sen per share, while its earnings per share rose to 11.27 sen from 9.48 sen.

The group expected its financial performance this year to improve this financial year.