PJ Development’s net profit jumps 41.3% in 3Q2010

KUALA LUMPUR: PJ Development Holdings Bhd’s net profit jumped 41.3% to RM9.105 million in 3Q ended March 31, 2010, from a net loss of RM1.772 million in the same quarter last year.

Revenue increased 7.84% to RM143.816 million from RM133.351 million previously.

The group achieved a pre-tax profit and share of profit of associate companies of RM12.62 million for 3Q2010 compared with RM263,000 for the corresponding quarter in the previous financial year, with the properties and construction divisions turning in better results compared with last year.

“Major contributors of the properties division were the Swiss-Garden Residences and Impian Meridian projects as well as rental income generated from the leasing of Menara PJD,” said PJ Development in a filing to Bursa Malaysia on May 27.

“With the remaining quarter to June 30, 2010, the board remains positive that the group’s results for the current financial year will surpass the last financial year,” PJ Development said.