Mulpha Land records net profit of RM1.82 mil for 3Q

KUALA LUMPUR: Mulpha Land Bhd recorded a net profit of RM1.82 million in its third quarter ended Sept 30, 2009 (3QFY2009), compared to a net loss of RM225,000 the previous year, on higher quarterly revenue.

Its revenue grew 73.6% to RM4.2 million in 3QFY2009, from RM2.4 million a year earlier. Its basic earnings per share jumped to 3.01 sen, from loss per share of 0.37 sen the previous year.

The higher revenue and profit were due to the higher gross profit from the difference in the housing product mix sold, cost adjustment income on completion of development properties as well as exceptional income items related to profit guarantee income received from a former director.
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