Ranhill 1Q net profit up 86% to RM15.6m

KUALA LUMPUR: Ranhill Bhd recorded an increase in net profit by 86% to RM15.64 million from RM8.38 million a year ago in its first quarter (1Q) financial results ended Sept 30, 2010, the group announced on Tuesday, Nov 30.

Revenue earned, however, dropped 11.5% to RM443.24 million from RM501 million a year ago.

The group attributed the drop in revenue to the lower recognition of revenue from the Senai Desaru Expressway and Libya Housing projects.

Basic earnings per share rose to 2.62 sen from 1.40 sen a year ago. Net assets per share rose to RM1.21 from RM1.12 at the preceding financial year end.

Ranhill is a Malaysia-based company engaged in investment holding, provision of management services and provision of engineering, procurement and construction services.