Mulpha net profit up to RM21.3m for 3Q

KUALA LUMPUR: Mulpha International Bhd has posted a net profit of RM21.3 million for the third quarter (3Q) ended Sept 30, 2010, up from RM20.3 million on higher revenue, it announced to Bursa Malaysia on Tuesday, Nov 23.

The group's revenue rose 34.4% to RM182.13 million from RM135.44 million a year ago.

Year-to-date, the group achieved revenue of 519.43 million, representing an increase of 19% from RM436 million in revenue, while its net profit rose to RM50.2 million from a net loss of RM54 million a year ago.

The improved performance was due to improved share of profit from the group's associates, namely FKP Property Group and Mudajaya Group Bhd.

"The better performance in the current period also included the recognition of gain on dilution of interest in Mudajaya amounting to RM29.85 million in the first quarter of 2010," it said.

The group expects its prospects for this year to be satisfactory.