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Mutiara Goodyear records 46% rise in revenue for 3Q2010

PETALING JAYA: Mutiara Goodyear Development Bhd recorded a 46% rise in group revenue for its third quarter ended Jan 31, 2010, to RM44.5 million from RM16.763 million in the preceding year's corresponding quarter ended Jan 31, 2009.

The Group's profit before tax for the quarter increased to RM6.3 million compared with RM3.16 million in the preceding year's corresponding quarter.

The property developer in a listing on Bursa Malaysia on Wednesday March 24 announced that the increase in revenue was due to the group's property development activities where projects under development are in progressive stages of completion coupled with new sales for the quarter.

The Group expects performance for this financial year to be satisfactory in view of the improving outlook for the overall economy.
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