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OSK Property 1Q FY2010 net profit drops 29.25%

KUALA LUMPUR: OSK Property Holdings Bhd saw its net profit for the first quarter ended March 31, 2010 (1Q FY2010) drop 29.25% to RM1.88 million, from RM2.66 million the previous year due to higher selling and marketing expenses incurred during the period.

In a Bursa Malaysia announcement on Monday May 17, the property developer’s revenue for the quarter, increased 34.65% to RM31.4 million from RM23.34 million a year earlier on higher sales registered for the Sutera Damansara and Bangi Lakehill Villas projects as certain phases achieved advanced stages of completion.

Its basic earnings per share was one sen, dropped from 1.42 sen the previous year. It did not declare any dividend
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