Mulpha 4Q profits decrease to RM55.126m

KUALA LUMPUR: Mulpha International Bhd chalked up a lower pre-tax profit of RM55.126 million for the fourth quarter ended Dec 31, 2010 from RM61.371 million registered in the same quarter of 2009.

However, revenue rose to RM279.135 million, for the quarter under review, from RM235.865 million recorded previously.

For the twelve-month period, Mulpha, however, turned around to record a group pre-tax profit of RM92.870 million compared with a pre-tax loss of RM44.476 million posted in 2009.

Group revenue rose to RM798.560 million from RM671.874 million previously, it said in a filing to Bursa Malaysia on Monday, Feb 28.

Mulpha said the better results were mainly due to the strength of the company's property and hotel operations, especially in Australia.

Looking ahead, the company expects to record a stronger performance with the sale of the Hilton Melbourne Airport Hotel, hopefully, in the first-half of the year. — Bernama