Share
KUALA LUMPUR: Paramount Corporation Bhd saw its net profit rise by 32% to RM21.6 million for the third quarter (3Q) ended Sept 30, 2010 from RM16.27 million a year ago, on the back of higher profit margins and contribution from a new development, it said in a filing to Bursa Malaysia.
The group posted revenue of RM98.29 million, down 12% from RM111.6 million a year ago due to lower progress billings.
Year-to-date, the group's net profit increased by 45% to RM63 million from RM43.2 million a year ago, underpinned by a 8% growth in revenue to RM329.3 million from RM300.4 million, thanks to brisk sales and higher progress billings from its property developments as well as its construction and education divisions.
Paramount said its prospects for the next quarter were expected to be positive in light of the buoyant property market and the lock-in unbilled sales brought forward.
"In addition, the gain from the proposed disposal of the group's 20% equity interest in Jerneh Insurance Bhd is expected to be realised in the said quarter," it added.
The group posted revenue of RM98.29 million, down 12% from RM111.6 million a year ago due to lower progress billings.
Year-to-date, the group's net profit increased by 45% to RM63 million from RM43.2 million a year ago, underpinned by a 8% growth in revenue to RM329.3 million from RM300.4 million, thanks to brisk sales and higher progress billings from its property developments as well as its construction and education divisions.
Paramount said its prospects for the next quarter were expected to be positive in light of the buoyant property market and the lock-in unbilled sales brought forward.
"In addition, the gain from the proposed disposal of the group's 20% equity interest in Jerneh Insurance Bhd is expected to be realised in the said quarter," it added.
SHARE
