PPB net profit up 70% to RM12.4m in 2Q2010

KUALA LUMPUR: Putrajaya Perdana Bhd (PPB) posted a net profit of RM 12.47 million for its second quarter ended June 30, 2010, up 70% from RM7.28 million a year ago on the back of improved profit margins for current construction projects and road maintenance works.

In a filing to Bursa Malaysia on Monday, Aug 16, the company said that the improved net profits came despite a 32.5% decline in revenue to RM154.05 million from RM228.05 million, which was due to the completion of a few major construction projects.

PPB said it expected to perform satisfactorily here barring unforeseen circumstances.

Earnings per share stood at 8.88 sen, up from 5.21 sen a year ago.

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