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Paramount's Q1 pre-tax profit rises to RM25.7 mil

KUALA LUMPUR: Paramount Corp Bhd's pre-tax profit for the first quarter ended March 31, 2011 has risen 16.3 per cent to RM25.7 million from RM22.1 million in the same quarter in 2010.

Its revenue grew 1.5 per cent to RM103.9 million from RM102.4 million previously, the company said in a filing to Bursa Malaysia on May 19.

Paramount said the higher profit was attributable to a better performance by the property development sector. "The performance for the group for the next three quarters will be driven mainly by the property development sector, underpinned by lock-in sales from robust demand that continue to spill into 2011," it said. -- Bernama

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