Selangor Dredging 3Q pre-tax rises RM9.812m

KUALA LUMPUR: Selangor Dredging Bhd's pre tax profit for the third quarter ended Dec 31, 2010 rose to RM9.812 million from RM6.341 million in the same quarter of 2009.

Its revenue increased to RM105.095 million from RM58.946 million previously.

For the nine-month period, its pre-tax profit rose to RM28.040 million from RM15.060 million in the same period of 2009.

Its revenue increased to RM251.313 million from RM168.212 million previously.

In a filing to Bursa Malaysia, Selangor Dredging said the better results were mainly attributable to high sales achieved in the newly-launched projects, 20trees West and Five Stones (Klang Valley) and Gilstead Two (Singapore).

"The outlook for the remainder of 2010 is expected to remain challenging from uncertainties in the global financial crisis in the West," it said. — Bernama