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KUALA LUMPUR: Petaling Tin Bhd posted a net loss of RM551,000 in the second quarter of its financial year ending Oct 31, 2010 (2QFY2010) compared to a net loss of RM1.2 million a year earlier due to the revenue generated from sales of its projects and construction contract works.
In a filing with Bursa Malaysia on Friday, June 25, the company recorded a revenue of RM7.2 million, an increase of 102.7% from RM3.6 million posted in the same quarter a year earlier. Earnings per share decline to 0.16 sen in the quarter under review compared to a loss of 0.37 a year earlier.
For the six months under review, the net loss posted is RM1.2 million compared to a net loss of RM2.2 million in the same period for the preceding year. Revenue however, increase by 357% to RM20 million for the year to date compared to RM4.4 million a year earlier.
“The current quarter and period to date result is mainly contributed by the revenue generated from sales of development project at Taman Kelab Ukay, Ampang, construction contract works, revenue from its new residential development of 126 units Double Storey Link Houses and sales of industrial lots at Desa Bukit Indah and Magilds Industrial Park, Sungai Buloh,” the company said.
On the company’s future prospects, it expected the current financial year to be positive with the sales of its development properties at Desa Bukit Indah and Magilds Industrial Park, Sungai Buloh and its upcoming residential developments at Kinrara, Puchong.
In a filing with Bursa Malaysia on Friday, June 25, the company recorded a revenue of RM7.2 million, an increase of 102.7% from RM3.6 million posted in the same quarter a year earlier. Earnings per share decline to 0.16 sen in the quarter under review compared to a loss of 0.37 a year earlier.
For the six months under review, the net loss posted is RM1.2 million compared to a net loss of RM2.2 million in the same period for the preceding year. Revenue however, increase by 357% to RM20 million for the year to date compared to RM4.4 million a year earlier.
“The current quarter and period to date result is mainly contributed by the revenue generated from sales of development project at Taman Kelab Ukay, Ampang, construction contract works, revenue from its new residential development of 126 units Double Storey Link Houses and sales of industrial lots at Desa Bukit Indah and Magilds Industrial Park, Sungai Buloh,” the company said.
On the company’s future prospects, it expected the current financial year to be positive with the sales of its development properties at Desa Bukit Indah and Magilds Industrial Park, Sungai Buloh and its upcoming residential developments at Kinrara, Puchong.
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