Plenitude net profits surge 72.3% to RM20.24m for 1Q

KUALA LUMPUR: Plenitude Bhd's net profit surged 72.3% to RM20.24 million for its first quarter ended Sept 30, 2010, from RM11.74 million a year ago, underpinned by higher revenue.

The group had posted turnover of RM77.08 million, representing a 33% increase from RM57.95 million, according to a filing to Bursa Malaysia on Monday, Nov 22.

Plenitude had attributed its financial performance to "progressive profit recognised on properties sold, completed and handed over", namely Taman Desa Tebrau (Johor), Taman Putra Prima (Selangor), Bayu Feringghi (Penang) and Bandar Perdana and Lot 88 (Kedah).

"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 financial year ending June 30, 2011," it said in notes accompanying the announcement.
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