KUALA LUMPUR: Olympia Industries Bhd recorded a net loss of RM2.4 million for its second quarter ended December 21, 2010 (2Q 2010) on the back of revenue of RM47.5 million.
Its revenue fell 13.5% from the RM54.9 million posted a year ago, while its net loss was lower than the RM3.6 million a year ago, the company said on Wednesday, Feb 23 in a Bursa announcement.
The decrease in revenue was due to lower revenue generated by the property and gaming divisions while the lower net loss was mainly attributed to the reversal of impairment loss on marketable securities based on marked to market.
In the absence of a definitive economic recovery, the company does not expect any material improvements on the results for the financial year ending June 20, 2011.
TOP PICKS BY EDGEPROP
Rawang Corporate Industrial Park
Rawang, Selangor
Bandar Bukit Raja
Bandar Bukit Raja, Selangor
Rawang Corporate Industrial Park
Rawang, Selangor
Bandar Botanic
Bandar Botanic/Bandar Bukit Tinggi, Selangor
Bandar Botanic
Bandar Botanic/Bandar Bukit Tinggi, Selangor
The Parque Residence @ Eco Santuary
Telok Panglima Garang, Selangor
The Parque Residence @ Eco Santuary
Telok Panglima Garang, Selangor
Ambang Botanic
Bandar Botanic/Bandar Bukit Tinggi, Selangor
Jalan Dato Bandar Tunggal
Seremban, Negeri Sembilan
Glory Beach Resort Apartment
Port Dickson, Negeri Sembilan
BBT One Boulevard, Bandar Bukit Tinggi
Klang, Johor