Naim Holdings net profit surges 72% to RM36.94 million

KUALA LUMPUR: Naim Holdings Bhd's net profit surged 72% to RM36.94 million for its third quarter ended Sept 30, 2010, from RM21.39 million a year ago despite a slight decline in revenue.

The group's revenue fell marginally to RM140 million from RM144.46 million a year ago, it announced to Bursa Malaysia on Wednesday, Nov 23.

Its earnings per share rose to 15.59 sen from 9.03 sen a year ago, and the group has proposed dividends of five sen per share.

Year-to-date, the group's pre-tax profit grew 16.8% to RM99.62 million from RM85.26 million on higher property sales and substantial completion of certain projects.

Meanwhile, revenue for increased by 12% to RM420.3 million from RM374.11 million.

The group expects to achieve favourable results for this financial year barring unforeseen circumstances.