Prinsiptek Corp 3Q net profit drops 43%

KUALA LUMPUR: Prinsiptek Corporation Bhd recorded a drop in net profit of 43% to RM406,000 from RM716,000 a year ago in its third quarter (3Q) financial statements ended Sept 30, 2010, the group announced on Monday, Nov 29.

Revenue collected during the same period increase by 37% to RM60.30 million from RM43.95 million a year ago.

Basic earnings per share dropped to 0.32 sen for the quarter under review compared to 0.56 sen a year ago. Net assets per share increased slightly to 95 sen from 92 sen as at the preceding financial year end.

Prinsiptek Corp is a Malaysia-based investment holding company and through its subsidiaries  engage in providing construction works, development of residential and commercial properties, and trading building materials and providing project management and secretarial services.