Sapura Resources see 4Q net profit of RM21m

KUALA LUMPUR: Sapura Resources Bhd recorded at net profit of RM21.9 million from a net loss of 397,000 a year ago, in its fourth quarter (4Q) financial statements ended Jan 31, 2011, it announced on Thursday, Mar 31.

Revenue however, dropped by 54% to RM30.7 million from RM66 million the previous year.

The net profit was result of the "realisation of the gains from the disposal of a piece of freehold land together with the automobile showroom, profit from the group's education business and write back of impairment in an associate", the group revealed.

The basic earning per share rose 15.68 sen from a loss of 0.28 sen a year ago. The net assets per share as at the end of the current quarter rose to RM1.27 from RM1.07 of the preceding financial year end.

Sapura Resources has three business segments, namely property investments, education and automotive sales.