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PLB net profit rises to RM3.06m

KUALA LUMPUR: PLB Engineering Bhd's net profit surged to RM3.06 million in the first quarter ended Nov 30, 2010 (1QFY2011) from RM256,000 a year earlier, despite lower revenue.

In a filing to Bursa Malaysia on Wednesday, Jan 26, the company said its revenue dropped 44.7% to RM14 million this quarter from RM25.34 million the previous year, as a majority of its construction and property development projects move towards the end of the construction stage.

"Reserve on consolidation arising upon acquisition of a new subsidiary contributes to the higher profit before tax for the current quarter," it added.

Its basic earnings epr share stood at 3.73 sen for the quarter, versus 0.31 sen the previous year.
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