Plenitude 2Q pre-tax profit rises to RM34.24m

KUALA LUMPUR (Feb 23): Plenitude Bhd registered a higher pre-tax profit of RM34.244 million for the second quarter ended Dec 31, 2011, compared with RM33.993 million in the corresponding period in 2010.

Revenue, however, decreased to RM74.116 million from RM86.817 million, Plenitude said in a filing to Bursa Malaysia on Thursday.

"The lower revenue was due to the reduction in property development contribution, mainly attributable to lower progressive income recognised on properties sold, completed and handed over of certain projects for Taman Desa Tebrau in Johor, Taman Putra Prima in Selangor, Bayu Ferringhi in Penang and Bandar Perdana and Lot 88 in Kedah," it said.

Looking forward, the company expects to continue to draw buyers for its properties in good locations, with the Board fairly optimistic that the Group would continue to achieve satisfactory results for the financial year ending June 30, 2012. — Bernama

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