Plenitude’s net profit eases by 29.3% in 3Q2010

KUALA LUMPUR: Plenitude Bhd’s net profit eased by 29.3% to RM21.714 million in the 3Q ended March 31, 2010, compared with RM30.709 million in the same period last year.

Revenue declined by 33.2% to RM74.801 million in the quarter under review from RM112.002 million over the same quarter last year.

However, the group’s profit before tax for the nine months ended March 31, 2010 has improved to RM77.7 million from RM76.6 million for the previous year’s corresponding period.

“The good financial performance was mainly attributable to progressive profit recognised on properties sold, completed and handed over in respect of Taman Desa Tebrau in Johor, Taman Putra Prima in Selangor, Bayu Ferringhi in Penang, Changkat View in Sri Hartamas, Kuala Lumpur and Bandar Perdana and Lot 88 in Kedah,” Plenitude said.

“Based on the group’s commitment to the timely completion of the on-going projects, the Board of Directors is fairly optimistic that the group would be able to continue to record satisfactory results for the current year ending June 30, 2010,” it added.
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